PLEASE ANSWER ALL OF THE QUESTION FROM A-C

Case 1 (45 Points) - L01 On Dec 31, 2020 (at the end of company's fiscal year) trial balance of Eternal Store appeared as follows: Eternal Store Trial Balance (Unadjusted) As of December 31, 2020 (all amount in $) Debit Credit Cash 260,000 Account Receivable 110,000 Prepaid Insurance 180,000 Inventory 250,000 Land 380,000 Equipment 100,000 Account Payable 110,000 Notes Payable 500,000 Share Capital - Ordinary 640,000 Retained Earning 70,000 Dividends 40,000 Sales Revenue 1,270,000 Sales Return and Allowance 20,000 Cost of Goods Sold 460,000 Salaries and Wages Expense 240,000 Utilities Expense 60,000 Freight Out 70,000 Supplies Expense 60,000 Rent Expense 360,000 2,590,000 2,590,000 Additional Data at the end of December: 1. Supplies on hand $34,400 2. Notes Payable was taken out on Jul 1, for 2 years. Interest rate 6% annually 3. Annual depreciation expense for equipment $20,000. Equipment purchase on Oct 1 4. Paid 2 years of office rent on Mar 1. 5. Insurance paid on Jun 1, for 3 years coverage 6. Salaries and wages still unpaid $26,000 7. Actual Inventory on hand $230,000 8. During December, a collectible of account receivable was not recorded $28,000 Required: a. Prepare the adjusted trial balance! b. Prepare an income statement, retained earnings statement, and statement of financial position c. as of Dec 31, 2020 and interpret the result! Journalize the closing entries and prepare a post-closing trial balance