Please solve the balance sheets above

Problem 2-6 Journal entries and statement preparation (LO2-13) Bob's Chocolate Chips and More, a bakery specializing in gourmet pizza and chocolate chip cookies, started business October 1, 2017. The following transactions occurred during the month of October. a. Common stock of $90,000 was sold at par to start the business. b. Equipment consisting of mixers and ovens was acquired October 1 for $30,000 cash. The equipment is expected to last five years, after which it is expected to be sold for $5,000. Management uses the straight-line method to calculate depreciation expense. c. Ingredients costing $15,000 were purchased on account during the month and all but $5,000 was paid for by the end of the month. d. Rent is $500 a month October, November, and December's rent was paid October 5. e. A payment of $800 for utilities was made during the month. f. Sixty percent of the ingredients purchased in part c were prepared and sold for $35,000 on account: $26,000 was collected on accounts receivable during the month. g. Wages of $5,200 were paid during the month. Moreover, wages for the last three days of the month amounted to $400 and will be paid during the first week of November. h. Borrowed $12,000 from the bank for additional working capital requirements, and $3,000 was repaid by month-end. Interest on the unpaid loan balance amounted to $450 at the end of October and was paid on November 5. Required: Prepare the required journal entries and adjusting entries as well as an October income statement and a balance sheet as of October 31, 2017 for Bob's Chocolate Chips and More. (Hint: You may want to consider using T-accounts to classify and accumulate the preceding transactions before preparing the statements.) Complete this question by entering your answers in the tabs below. Required Required Required Required Prepare journal entries to record the transactions for October. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal 1 Cash Common stock Credit Debit 90.000 90,000 2 b . 30.000 Equipment Cash 30,000 3 C . Depreciation expense Accumulated depreciation 417 4 1 . 15,000 Inventory Accounts payable 15,000 Rent expense Prepaid rent Cash 500 1,000 15,000 Utilites expense Cash 800 35,000 Accounts receivable Sales revenue 35.000 8 -1. 9.000 Cost of goods sold Inventory 9,000 5,600 Wages expense Wages payable Cash 400 5.200 10 h. 12.000 Cash Notes payable 12.000 11 -1. 3.000 Notes payable Cash 3.000 12 -2. 450 Interest expense Interest payable 450 Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare Bob's adjusting entries for the October transactons. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar.) View transaction list Journal entry worksheet Prepare the adjusting entry to record the depreciation on equipment. Note: Enter debits before credits. Transaction General Journal Credit Debit 35,000 Sales revenue Cost of goods sold 9,000 Wages expense Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare Bob's adjusting entries for the October transactons. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar.) View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare Bob's income statement for the month ending October 31, 2017 Bob's Chocolate Chips and More Income Statement For Month Ended October 31, 2017 Sales revenue Less: Cost of goods sold 35,000 (15,000) 20,000 Less: Operating expenses Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare a balance sheet as of October 31, 2017. (Round your final answers to the nearest whole dollar. Amounts to be deducted should be indicated with a minus sign.) Bob's Chocolate Chips and More Balance Sheet October 31, 2017 Assets Total assets Liabilities Shareholders' equity Total shareholders' equity Total liabilities and shareholders' equity Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare Bob's adjusting entries for the October transactons. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar.) View transaction list Journal entry worksheet Prepare the adjusting entry to record the depreciation on equipment. Note: Enter debits before credits. Transaction General Journal Credit Debit 35,000 Sales revenue Cost of goods sold 9,000 Wages expense Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare Bob's adjusting entries for the October transactons. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar.) View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare Bob's income statement for the month ending October 31, 2017 Bob's Chocolate Chips and More Income Statement For Month Ended October 31, 2017 Sales revenue Less: Cost of goods sold 35,000 (15,000) 20,000 Less: Operating expenses Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare a balance sheet as of October 31, 2017. (Round your final answers to the nearest whole dollar. Amounts to be deducted should be indicated with a minus sign.) Bob's Chocolate Chips and More Balance Sheet October 31, 2017 Assets Total assets Liabilities Shareholders' equity Total shareholders' equity Total liabilities and shareholders' equity