Prepare a classified balance sheet as of December 31, 2024. Assume that no common stock war istued during the vear and that 57,500 in cash dividends were paid to shareholders during the year. Nietas Amounts to be deducted should be indicated by a minus sign. Prepare closing entries and post to the T-accounts (on the T-accounts tab). Noter If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Journal entry worksheet 3 Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year ended December 31, 2024. Assume that no common stock was issued during the year and that $7,600 in cash dividends were paid to shareholders during the year. Note: Other expenses should be indicated with a minus sign. Prepare a statement of shareholders' equity for the year ended December 31, 2024. Assume that no common stock was issued during the year and that $7,600 in cash dividends were paid to shareholders during the year. Required Information [The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31. 2024. appears below. Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $11,800. 2. Employee salaries are pald twice a month, on the 22 nd for salaries earned from the 1st through the 15 th. and on the 7 th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2024, were $1,700. 3. On October 1, 2024, Pastina borrowed $53.600 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years. 4. On March 1, 2024, the company lent a supplier $23.600, and a note was signed requiring principal and interest at 8% to be paid on February 28, 2025 5. On April 1, 2024, the company paid an insurance company $9,600 for a one-year fire insurance policy. The entire $9,600 was debited to prepaid insurance at the time of the payment. 6. $1,010 of supplies remained on hand on December 31,2024 . 7. The company received $3.800 from a customer in December for 1,650 pounds of spaghewi to be delivered in January 2025. Pastina credited deferred sales revenue at the time cash was received. 8. On December 1,2024,$2,800 rent was paid to the owner of the buliding. The payment represented rent for December 2024 and January 2025 at $1,400 per month. The entire amount was debited to prepaid rent at the time of the payment