please read the requirment to answer thr question.

CP4-42 (no worksheet) (similar to) Better Boat Company began operations on November 1, 2018 The November and Decombor transactions and the information used to prepare the adjusting entries at December 31, 2018 follows Click the icon to view the November and December transactions and the December 31 adjustment data) Botter Boat Company propered an unadjusted trial balance at December 31, adjusting entries for the two months onded December 31, and an adjusted trial balance at December 31 as follows (Click the icon to view the unadjusted trial balance) Click the icon to view the adjusting journal entries (Click the icon to view the adjusted trial balance.) Read the requirements Hovonios Canoe Rental Revenue $ 15,150 Expenses Rent Expense $ 2 200 Wages Expenso 5,100 Utilities Expense 440 Tolophone Expense 400 Supplies Expense 000 Depreciation Expense-Building 1.000 Depreciation Expense-Canoes 220 80 Interest Expense Total Expenses 10340 4,810 Net Income (Loss) Requirement 2. Prepare a statement of retained earnings for the two months ended December 31, 2018. Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal (Complete all answer boxes. Entora "O" for any zero balances) Better Boat Company Statement of Retained Earnings Two Months Ended December 31, 2018 Retained Earnings, November 1, 2018 23.000 Net income for the two months 4,810 27.810 (900) Dividends Retained Earnings, December 31, 2018 26,910 Cheminar antambar in the innuit file and then click Check Answer Received $23,000 cash to begin the company and issued common stock Nov. 1 to Ashley and Zander, Nov. 2 Signed a lease for a building and paid $1,100 for the first month's rent Nov. 3 Purchased canoes for $8.160 on account Nov. 4 Purchased office supplies on account $700 Nov. 7 Eamed $1,800 cash for rental of canoes Nov. 13 Paid $1,700 cash for wages Nov. 15 Paid $100 dividends to stockholders Nov. 16 Received a bill for $200 for utilities (Use separate payable account) Received a bill for $130 for cell phone expenses (Use separate payable Nov. 20 account.) Nov. 22 Rented canoes to Toddler Town on account, $3 100 Nov. 26 Paid $2,000 on account related to the November 3, 2018, purchase Received $1,800 from Toddler Town for canoe rental on November 22 Nov. 28 2018 Nov. 30 Paid $350 dividends to stockholders Ashley and Zander contributed land on the river (worth S65 000) and a small building to use as a rental office (worth S205 000) in exchange for Dec. 1 common stock Prepaid $3,300 for three months rent on the warehouse where the Dec. 1 company stores the canoes Dec. 2 Purchased canoes signing a notes payable for $4,800 Dec. 4 Purchased office supplies on account for $1,000 Dec. 9 Received $5,000 cash for canoe rentals to customers, Dec. 15 Rented canoes to customers for $4.000, but will be paid next month Received a $400 deposit from a canoe rental group that will use the Dec. 16 canoes next month Dec. 18 Paid the utilities and telephone bills from last month Dec. 19 Paid various accounts payable, $1,200 Received bills for the telephone ($270) and utilities ($240) which will be Dec. 20 paid later Dec. 31 Paid wages of $2,000. Paid cash dividend to stockholders, $450. Dec. 31 Data used for the adjusting entries at December 31 follows: a. Office supplies on hand, $800 b. Rent of one month has been used. (Hint: See Dec. 1 transaction) c. Determine the depreciation on the building using straight-line depreciation. Assume the useful life of the building is 15 years and the residual value is $25,000. (Hint: The building was purchased on December 1.) d. $350 of unearned revenue has now been earned. e. The employee who has been working the rental booth has earned $1,400 in wages that will be paid January 15, 2019. f. Better Boat has earned $900 of canoe rental revenue that has not been recorded or received. I g. Determine the depreciation on the canoes purchased on November 3 using straight-line depreciation. Assume the useful life of the canoes is 8 years and the residual value is $0. h. Determine the depreciation on the canoes purchased on December 2 using straight-line depreciation. Assume the useful life of the canoes is 8 years and the residual value is $0. i. Interest expense accrued on the notes payable, $80. Better Boat Company Unadjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit $ 19,470 5,300 Cash Accounts Receivable Office Supplies Prepaid Rent Land 1,700 3,300 Building Canoes 65,000 205,000 12.960 6,660 Accounts Payable Utilities Payable 240 270 Telephone Payable Unearned Revenue 400 4,800 Notes Payable Common Stock 293.000 900 13,900 Dividends Canoe Rental Revenue Rent Expense Wages Expense Utilities Expense 1,100 3,700 440 400 Telephone Expense $ Total 319,270 S 319,270 Better Boat Company Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash 19,470 Accounts Receivable 6,200 800 2.200 65,000 205,000 $ 12,960 1,000 220 6,660 1.400 240 Office Supplies Prepaid Rent Land Building Accumulated Depreciation-Building Canoes Accumulated Depreciation-Canoes Accounts Payable Wages Payable Utilities Payable Telephone Payable Unearned Revenue Interest Payable Notes Payable Common Stock Dividends Canoe Rental Revenue Rent Expense Wages Expense Utilities Expense 270 50 80 4,800 293,000 900 15,150 2,200 5,100 440 Date Accounts and Explanation Debit Credit Dec. 900 Adj (a) 900 Dec 1,100 Adj (6) 1,100 Dec 1,000 Adj (c) 1,000 Dec 350 Adj. (d) 350 Dec. 1,400 31 Supplies Expense Office Supplies To record office supplies used 31 Rent Expense Prepaid Rent To record rent expense. 31 Depreciation Expense-Building Accumulated Depreciation-Building To record depreciation on building. 31 Unearned Revenue Canoe Rental Revenue To record revenue earned that was collected in advance 31 Wages Expense Wages Payable To accrue wages expenso. 31 Accounts Receivable Canoe Rental Revenue To accrue canoe rental revenue 31 Depreciation Expense-Canoes Accumulated Depreciation-Canoes To record depreciation on canoes. 31 Depreciation Expense-Canoes Accumulated Depreciation-Canoes To record depreciation on canoes. 31 Interest Expense Interest Payable Adj (e) 1.400 Dec 900 Adj. (1) 900 Dec 170 Adj. (g) 170 50 Dec Adj. (h) 50 Dec 80 Adj. (6) 80 1. Prepare an income statement for the two months ended December 31, 2018 Use the adjusted trial balance provided. 2. Prepare a statement of retained earnings for the two months ended December 31, 2018. 3. Prepare a classified balance sheet (report form) at December 31, 2018. Assume the note payable is long-term. 4. Journalize and post the closing entries at December 31, 2018. T-accounts for Income Summary and Retained earnings have been opened for you. Determine the ending balance for each account. Denote each closing amount as Clos, and each account balance as Bal. 5. Prepare a post-closing trial balance at December 31, 2018