Please review my attachments for Palisade Creek Co. to review for accuracy and to help with the ones I am having trouble with. Thanks!

Below is the Unadjusted Trial Balance for Palisade Creek Co. Complete each tab by utilizing the Unadjusted Trial Balance and the adjustment data provided on the Adjusting Entries tab. 1. journalize the 4 year-end adjusting entries. 2. Prepare an Adjusted Trial Balance. 3. Prepare the first 3 financial statements. a. Multi-step Income Statement b. Retained Earnings Statement c. Balance Sheet 4. journalize the 4 year-end closing entries. 5. Prepare a post-closing trial balance. PALISADE CREEK C0. Unadjusted Trial Balance 3 1-May- 16 Debit Balances Credlt Balances Cash 84.500 Accounts Receivable 245.875 Merchandise Inventory 583.950 Prepaid Insurance 16,800 Store Supplies 13,800 Store Equipment 569.500 Accumulated Depreciation--Store Equipment 56.700 Accounts Payable 63.150 Salaries Payable - Customers Refunds Payable 29,270 Common Stock 100,000 Retained Earnings 570,100 Dividends 135,000 Sales 5,376,205 Cost of Merchandise Sold 3.013.000 Sales Salaries Expense 720.800 Advertising Expense 292.000 Depreciation Expense - Store Supplies Expense - Miscellaneous Expense 12,600 Ofce Salaries Expense 411,100 Rent Expense 88.700 Insurance Expense - Miscellaneous Administrative Expense 7.800 $ 6,195,425 $ 6,195,425 At the end of May, the following adjustment data were assembled. Anaylze and use these data to make the adjusting entries. 1. Insurance expired during year is $12,000. 2. Store supplies on hand on May 31 are $4,000. 3. Depreciation for current year is $14,000. 4. Accrued sales salaries on May 31 is $7,000 and accrues office salaries on May 31 is $6,600. journal Date Description Debit Credit Adjusting Entries 1. 3 1-May Insurance Expense 12,0 0 0 Prepaid Insurance 12,0 0 0 ' 2. 3 1-May Store Supplies Expense 4,0 0 0 Store Supplies 4,0 0 0 ' 3. 3 1-May Depreciation Expense 14,0 0 0 Accumulated Depreciation - Store Equipment 14,000 4. 3 1-May Sales Salaries Expense 7,0 0 0 Office Salaries Expense 6,600 Salaries Payable 13,60 0 Prepare the Adjusted Trial Balance. PALISADE CREEK C0. Adjusted Trial Balance 31-May-16 Debit Balances Credit Balances Cash 84,500 Accounts Receivable 245,875 Merchandise Inventory 583,950 Prepaid Insurance 4,800 Store Supplies 9,800 Store Equipment 569,500 Accumulated Depreciation--Store Equipment 70,700 Accounts Payable 63,150 Salaries Payable 13,600 Customers Refunds Payable 29,270 Common Stock 100,000 Retained Earnings 570,100 Dividends 13 5,000 Sales 5,376,205 Cost of Merchandise Sold 3,013,000 Sales Salaries Expense 727,800 Advertising Expense 292,000 Depreciation Expense 14,000 Store Supplies Expense 4,000 Miscellaneous Expense 12,600 Ofce Salaries Expense 417,700 Rent Expense 88,700 Insurance Expense 12,000 Miscellaneous Administrative Expense 7,800 $ 6,223,025 $ 6,223,025 Prepare a Mutli-step Income Statement. Make sure to fill in the title, as well as all information. PALISADE CREEK CO. INCOME STATEMENT FOR THE YEAR ENDED MAY 31, 2016 Sales 5,376,205 Cost of Goods Sold 3,013,000 Gross Margain $ 2,363,205 Operating Expenses: Selling Expenses: Sales Salaries Expense 727,800 Advertising Expense 292,000 Depreciation Expense 14,000 Store Supplies Expense 4,000 Miscellaneous Selling Expense 12,600 Total selling expenses $ 1,050,400 Administrative expenses: Office Salaries Expense 417,700 Office Rent Expense 88,700 Insurance Expense 12,000 Miscellaneous Administrative Expense 7,800 Total administrative expenses 526,200 $ 2,363,205 Total expenses 1,576,600 Net $786,605 $ 786,605Prepare the Retained Earnings Statement. Make sure to fill in the title, as well as all information. Palisade Creek Co. Retained Earnings Statement For the Year Ended May 31, 2016 Retained earnings, 31-May-2016 H 570,100 Add: Sales Revenue 5 5,3 76,205 Less: Expenses 4,595,400 Less: Dividends (135,000) Retained earnings, 31-May-2016 1,215,905 Prepare the Balance Sheet. Make sure to fill in the title, as well as all information. Palisade Creek Co. Balance Sheet 31-May-16 Assets Current assets: Cash $ 84,500 Accounts Receivable 245,875 Merchandise Inventory 583,950 Prepaid Insurance 4,800 Store Supplies 4,000 Total current assets 923,12 5 Property, plant, and equipment: Gross Value of Equipment .1; 569,500 Accumulated Depreciation (70,700) Total property, plant, and equipment 498,800 Total assets 35 1,421,925 Liabilities Current liabilities: Accounts Payable $ 63,150 Salaries Payable 13,600 Customer Refund Payable 29,270 Total liabilities 106,020 Stockholders' Equity Common Stock 100,000 Retained Earnings I 1,215,905 | Total stockholders' equity 1,315,905 Total liabilities and stockholders' equity $ 1,421,925 Prepare the Closing Entries for Palisade Creek Co. Journal Date Description Debit Credit Closing Entries 31-May Sales 5,376,205 Income Summary 5,376,205 31-May Income Summary 4,589,600 Cost of Merchandise Sold 3,013,000 Sales Salaries Expense 727,800 Advertising Expense 292,000 Depreciation Expense 14,000 Store Supplies Expense 4,000 Miscellaneous Expense 12,600 Office Salaries Expense 417,700 Rent Expense 88,700 Insurance Expense 12,000 Miscellaneous Administrative Expense 7,800 31-May Income Summary 1,215,905 Retained Earnings 1,215,905 31-May Retained Earnings 135,000 Dividends 135,000Prepare the Post-Closing Trial Balance. PALISADE CREEK CO. Post-Closing Trial Balance 31-May-16 Debit Balances Credit Balances Cash $ 84,500 Accounts Receivable 245,875 Merchandise Inventory 583,950 Prepaid Insurance 4,800 Store Supplies 4,000 Store Equipment 569,500 Accumalated Depreciation - Store Equipment $ 1,492,625 | $