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please answer question Concord Company's balance sheet at December 31, 2021, is presented below. During January 2022, the following transactions occurred. (Concord Company uses the

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Concord Company's balance sheet at December 31, 2021, is presented below. During January 2022, the following transactions occurred. (Concord Company uses the perpetual inventory system.) 1. Concord paid $215 interest on the note payable on January 1,2022 . The note is due December 31.2023. 2. Concord purchased $224,546 of inventory on account. 3. Concord sold for $378,400 cash, inventory which cost $227,900. Concord also collected $24,596 in $ales taxes. 4. Concord paid $197,800 in accounts payable. 5. Concord paid $14.620 in sales taxes to the state. 6. Paid other operating expenses of $25,800. 7. On January 31,2022, the payroll for the month consists of salaries and wages of $54,000. All salaries and wages are subje to 7.65% FICA taxes. A total of $7,660 federal income taxes are withheld. The salaries and wages are paid on February 1. Adjustment data: 8. Interest expense of $215 has been incurred in January on the notes payable. 9. The insurance for the year 2022 was prepaid on December 31, 2021. 10. The equipment was acquired on December 31,2021, and will be depreciated on a straight-line basis over 5 years with a $1,720 salvage value. 11. Employer's payroll taxes include 7.65%FICA taxes, a 5.4% state unemployment tax, and an 0.6% federal unemployment tax. Prepare journal entries for the transactions listed above and the adjusting entries. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, eg. 5.275.) (To record cost of goods sold.) 4. 5. 6. 7. 8. 9. 10. 11. Prepare an adiusted trial balance at January 31. 2022. (Round answers to 0 decimal places, es. 5.275.) CONCORD COMPANY Income Statement $ $ Prepare an owner's equity statement for the month ending January 31, 2022. (Round answers to O decimal places, eg. 5,275) CONCORD COMPANY Balance Sheet Assets $ Liabilities and Owner's Equity Liabilities and Owner's Equity $ $ s

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