Please do Required question #1 and #2

The Amsterdam sole proprietorship owned by Mr Shu, has a fiscal year end of June 30th. The bookkeeper has been ill and was unable to complete the recording of the items to follow. You have been called upon to complete the work and present the financial statements for the year ended June 30, 2022. Information regarding unrecorded or unadjusted events: 1. Depreciation expense must be adjusted. The acquisition of the equipment was on October 1 , 2020. Residual value was $200,000 with a useful life of 14 years. 2. Supplies at June 30,2022 , after a physical count, was determined to be $386,000 3. Utilities expense not paid for June 2022 amounting to $76,500 was not included in the records as the invoice arrived after preparation. 4. Total expired insurance for the year is $575,000 5. Accrued wages earned by the employees are $110,000 6. The company pays $22,000 of interest on all the notes payable per month on the 20th of the month. Of the Long term notes payable, $500,000 will be paid by June 30,2023 7. Interest on the notes receivable in the sum of $2,900 has not been recorded or received and $15,000 of the notes receivable due November 2025 will be received by June 30,2023 8. After inspection of the unearned revenue account, it was determined that $24,000 value of sales had been completed by June 30th. 9. It was observed that $98,000 of product (with a cost of 24,000 ) had been shipped out FOB shipping point on June 30 and was not recorded nor payment received. 10. An amount of $17,500 recorded to revenue, represents money received but for which no service has yet been rendered. 11. A client returned product having a sales value of $16,000 (with a cost of $6.000 ) which was received on June 30,2022 but has not been recorded. 12. Inventory purchased at the end of June in the amount of $65,000 with terms of 2/10n/30 has not been recorded or included in inventory. 13. On the last day of June, defective units received from a supplier were returned but not recorded at that date, in the amount of $9,500. 14. Additional information: $500,000 of the long term notes payable are due by June 30,2023. Required: 1. Prepare the adjusting entries in proper form 2. Prepare the statement of changes in equity for the fiscal period ending June 30,2022 Unadjusted Trial Balance