Pavlov$$s Home Renovations was started in $2008$ by Jim Pavlov. Jim operates the business from Required:

an office in his home. Listed below, in alphabetical order, are the company$$s assets and liabilities $1$ Prepare a classified trial balance.

as at December $31,2021,$ and the revenues, expenses, and drawings for the year ended December $31,2021$: $2$ Record adjusting entries as at December $31,2021.$

$3$ Prepare an adjusted trial balance.

Accounts payable $ $7,850$ Operating expenses $ $3,5454$ Prepare income statement, statement of owner's equity, and balance sheet.

Accounts receivable $10,080$ Prepaid insurance $1,685$

Cash $8,250$ Salaries expense $88,230$

Equipment $29,400$ Service revenue $153,750$

Insurance expense $3,375$ Supplies $595$

Interest expense $1,195$ Supplies expense $20,095$

J$.$ Pavlov, drawings $44,800$ Unearned revenue $15,000$

Notes payable $30,800$ Vehicles $42,000$

Jim$$s capital at the beginning of $2021$ was $$45,850.$ He made no investments during the year.

Additional Information:

$1.$ The insurance policy for one year was purchased on August $1,2021.$

$2.$ Operating expenses owing as at December $31,2021$ were $$2,500.$

$3.$ Notes payable has interest of $4\%$ per annum, the company pays interest on the first day of each month.

$4.$ The vehicles have an estimated useful life of $15$ years.

$5.$ As of December $31,2021,$ the company earned $$8500$ from the unearned revenue amount.