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. 8. On December 1,2021,$2,400 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022, at $1,200 per month. The entire amount was debited to prepaid rent. Required: Follow the accounting processing cycle and work through the following items: 1. Enter the unadjusted balances from the above trial balance into T-accounts. 2. Prepare the adjusting journal entries for the above transactions and post those entries to the appropriate T-accounts. 3. Prepare an adjusted trial balance. 4. Prepare an income statement for 2021. 5. Prepare a balance sheet as of December 31, 2021. 6. Prepare a statement of shareholders' equity as of December 31, 2021 7. Prepare and post the closing entries. 8. Prepare a post-closing trial balance. Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $10,800. 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 $1,400. 3. On October 1,2021, Pastina borrowed $51,600 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 $21,600 and a note was signed requiring principal and interest at 9% to be paid on February 28, 2022. 5. On April 1, 2021, the company paid an insurance company $6,800 for a one-year fire insurance policy. The entire $6,800 was debited to prepaid insurance. 6. $900 of supplies remained on hand at December 31,2021. 7. A customer paid Pastina $2,800 in December for 1,548 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue