please explain and answer

December 31, 2018DebitCreditCash$ 17,000Accounts receivable31,700Inventory28,750Supplies2.940Prepaid insurance3.000Land30,000Buildings150,000Accumulated depreciation-buildings$ 24,000Equipment45,000Accumulated depreciation equipment18,000Accounts payable33.735Unearned revenue4,000Bank loan payable147,100Common shares13,000Retained earnings31,425Dividends declared2.000Sales265,770Sales returns and allowances2,500Sales discounts3.275Cost of goods sold171,225Salaries expense30.950Utilities expense5,100Interest expense8,090Income tax expense5,500$537,030 $537,030Additional information and adjustment data:.The 12-month insurance policy was purchased and was effective February 1, 2018.2. There was $750 of supplies on hand on December 31.3.Depreciation expense for the year is $6,000 for the buildings and $4,500 for the equipment.4.Salaries of $750 are accrued and unpaid at December 31.5.Accrued interest expense at December 31 is $735.6.Unearned revenue of $975 is still unearned at December 31. On the sales revenue that was earned, the cost of goods sold was $2,000.7.Of the bank loan payable, $9,800 is payable next year.8.Income tax of $500 is due and unpaid.9.A physical count of inventory indicates $23,800 on hand at December 31.10.Common shares of $3,000 were issued during the year.Instructions(a) Record the required adjusting entries, assuming the company adjusts its accounts annually.(b) Set up T accounts, enter the band post the adjusting entries prepared in part (a).(c) Prepare an adjusted trial bal(d) Prepare a multiple-step instatement of changes in equity, and statement of financial position for the year.esc19 F1F220888 F4FS- F644II4 FIONCo #olo6QWERTYUOtabASDFGHJKcaps lockBMshiftZXCaltcontroloptioncommandcomm