Please help with question b. "Prepare an updated trial balance at december 31st"

PDQ Corporation's Trial Balance at December 31, 20XX is presented below. All 20xx transactions have been recorded except for the items described on the next page: Debit Credit Cash $ 121,590 Accounts Receivable 28.789 Inventory 25,540 Debt Investments 0 Land 55,674 Buildings 215,850 Equipment 75, 120 Allowance for Doubtful Accounts $ 1,077 Accumulated Depreciation-Buildings 63,306 Accumulated Depreciation-Equipment 16,048 Accounts Payable 35,278 Interest Payable 0 Uneamed Rent Revenue 60,600 Dividends Payable 0 Income Tax Payable 0 Bonds Payable 0 Discount on Bonds Payable 0 Common Stock (52 par) 29,200 Paid in Capital in Excess of Par-Common Stock 44 580 Preferred Stock ($60 par) 0 Paid in Capital in Excess of Par-Preferred Stock 0 Retained Earnings 127,904 Treasury Stock Cash Dividends Sales Revenue 776,068 Rent Revenue Gain on sale of Land Loss on sale of Debt Investments 0 0 Bad Debt Expense Interest Expense 0 Cost of Goods Sold 478,592 0 Depreciation Expense Other Operating Expenses 73,274 79,632 Salaries and Wages Expense 0 Income Tax Expense $ 1,154,061 $ Total 1.154,061 alo Unrecorded transactions: Round all calculations if necessary to -o-decimals (to the nearest dollar, do not show cents). 1. On January 1, 20XX, PDG Corp. issued 520 shares of $60 par, 6% preferred stock for $75,810 2. On January 1, 20XX, PDG Corp. also issued 5,800 shares of common stock for $42,050. 3. On January 1, 20XX, PDQ Corp. issued $325,000, 6.5%, 8 year bonds when the market rate was 7%. Interest is to be paid annually on each January 1, beginning one year from date of issue. 4. PDQ Corp. reacquired 3,500 shares of its common stock on January 12, 20xx for $12.00 per share. 5. On December 31, 20XX, PDQ Corp. declared the annual preferred dividend plus a $2.75 per share dividend on the outstanding common stock, all payable in cash on January 31 of next year. 6. Bought Debt Investments worth $75,000 for cash. 7. On December 31, 20XX, PDQ Corp. estimates that the total amount of accounts receivable that is uncollectible at year end is $2,700 8. The building is being depreciated using the straight line method over 25 years. The salvage value is $100,000 9. The equipment is being depreciated using the straight line method over 5 years. The salvago value is $15,000. 10. Sold the Land for $60,000 cash. 11. The unearned rent was collected on December 1, 20XX. It was receipt of 3 months' rent in advance (December 1 of this year through February 28 of next year). 12. The first cash interest payment on the 6.5% bonds is due January 1 of next year. The annual interest on the bonds for 20XX has not yet been recorded. Use the effective interest method. 13. The PDQ Corporation sold half of the Debt Investments for $30,000 cash. 14. The PDQ Corporation must make an adjusting entry to accrue income tax expense on Income Before Income Tax at a rate of 24%. The taxes will not be paid until March of next year. Instructions (a) Prepare journal entries for the transactions listed above. (b) Prepare an updated trial balance at December 31, 20XX. (c) Prepare a multiple-step income statement for the year ending December 31, 20xx. (d) Prepare a retained eamings statement for the year ending December 31, 20XX (e) Prepare a classified balance shoot as of December 31, 20xx. ( Prepare a Statement of Cash Flows as of December 31, 20XX (9) and (h) Calculate and analyze the following ratios, clearly presenting your work and answers: 1. Working Capital 5. Payout Ratio 2. Current Ratio 6. Debt to Assets Ratio 3. Return on Stockholders' Equity 7. Times Interest Earned 4. EPS 8. Free Cash Flow PDQ Corporation Updated Trial Balance 12/31/20XX DR CR - Cash Accounts Receivable Inventory Debt Investments Buildings Equipment Allowance for Doubtful Accounts Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accounts Payable Interest Payable Dividends Payable Uneamed Rent Revenue Income Tax Payable Bonds Payable Discount on Bonds Payable Common Stock ($2 par) Paid-in Capital in Excess of Par - Common Stock Preferred Stock ($60 par) Paid-in Capital in Excess of Par-Preferred Stock Retained Eamings Treasury Stock Cash Dividends Sales Revenue Rent Revenue Gain on Sale of Land Loss on Sale of Debt Investments Bad Debts Expense Interest Expense Cost of Goods Sold Depreciation Expense Other Operating Expenses Salaries and Wages Expense Income Tax Expense Totals