Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021. appears below Credits Debits 34,600 42,400 2,700 62,400 22,400 @ 2,200 8,400 89,600 33,600 33,400 @ 52,400 Account Title Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 3,200 76,800 34,500 6,400 158,000 82,000 20,100 12,200 @ 2,300 @ 4,200 391,900 391,900 Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $11,200. 2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $1,350. 3. On October 1, 2021. Pastina borrowed $52.400 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years. 4. On March 1, 2021, the company lent a supplier $22.400 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022. 5. On April 1, 2021, the company paid an insurance company $8.400 for a one-year fire insurance policy. The entire $8,400 was debited to prepaid insurance. 6. $830 of supplies remained on hand at December 31, 2021. 7. A customer paid Pastina $3,200 in December for 1,350 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue. 8. On December 1, 2021. $2,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $1,100 per month. The entire amount was debited to prepaid rent. 3. Prepare an adjusted trial balance. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) PASTINA COMPANY Adjusted Trial Balance December 31, 2021 Account Title Debits Credits Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals $ 0 $ 0 Required: 1. & 2 Post the unadjusted balances and adjusting entires into the appropriate t-accounts. (Enter the number of the adjusting entry in the column next to the amount. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Cash Accounts Receivable Beg, bal. Beg. bal. End. bal. End. bal. Prepaid Rent Prepaid Insurance Beg. bal. Beg. bal. End. bal. End. bal. Supplies Inventory Beg. bal. Beg. bal. End. bal. End. bal. Note Receivable Office Equipment Beg. bal. Beg. bal. End, bal. End, bal. Interest Receivable Accumulated Depreciation Beg. bal. Beg. bal. End hal End hal 4. Prepare an income statement and a statement of shareholders' equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock was issued during the year and that $6,400 in cash dividends were paid to shareholders during the year. Complete this question by entering your answers in the tabs below. Income Statement of Balance Statement SE Sheet Prepare the income statement for the year ended December 31, 2021. (Other expenses should be indicated with a minus sign.) PASTINA COMPANY Income Statement For the Year Ended December 31, 2021 6. Prepare a post-closing trial balance. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Credits PASTINA COMPANY Post-Closing Trial Balance December 31, 2021 Account Title Debits Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Sales revenue Interest revenue Cost of goods sold Salaries and wages expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 5. Prepare closing entries. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) View transaction list Journal entry worksheet