Prepare all appropriate adjusting entries in general journal form. Post the entries. Prepare the adjusted trial balance that reflects your adjusting entries.(This should calculate automatically)Prepare the following financial statements:

1.Income statement (including EPS) (MULTI-STEP)

2.Statement of comprehensive income

3.Statement of retained earnings

4.Balance Sheet (CLASSIFIED)Prepare the appropriate closing entries in general journal form.Post closing entries to worksheet.Prepare post-closing trial balance.\

The unadjusted trial balance for PUP as of 12/31/19 is included on the worksheet page.PUP makes ANNUAL adjusting entries.In addition to the trial balance, the controller's group has compiled the following information to facilitate the preparation of year-end financial statement.

1.PUP purchased an insurance policy on 8/1/19 that is effective 8/1/19 to 7/31/20.

2. Employees worked a total of $1,440 between the last pay date and 12/31/19 that will be paid on 1/3/20.

3.PUP determined that a $350 receivable from Lucky's Lively Llamas is not collectible.PUP uses the A/R (balance sheet) allowance method for bad debts.

4PUP took a physical count of supplies on 12/31/19 and there was $456 left in the supply closet.

5.PUP has a note payable to Bank of America (hereinafter BOA) for $50,000 at an annual interest rate of 3%.The five-year note is dated 4/30/19 and pays interest annually every 4/30.

6.On 12/31/19 PUP sold $5,000 of merchandise to Pappa's Pet Groomers.Pappa paid for the merchandise but PUP cannot deliver it until 1/6/20.PUP has included the $5,000 in Cash and Sales on the unadjusted trial balance.

7.An analysis completed by the controller's office, using the balance sheet(A/R) approach, indicates that 5% of total accounts receivable is uncollectible. (Round to nearest whole dollar).

8.PUP uses a FIFO perpetual inventory system.A physical count of invenotry reveals $10,908 of inventory on hand at year end. (Do not use an inventory over/short account)

10. PUP owns a building that was purchased in 2015 for $248,500.The building is being depreciated using straight line over a 20 year useful life and has a $74,500 salvage value.PUP's controller wants to find the orginal invoice for the building purchase and belives the invoice was filed by month of purchase, what month in 2015 was the building purchased?

11.PUP owns a forklift for moving freight that was purchased in 2016 for $9,300. The forklift is being depreciated using straight line over a 10 year useful life and has a $2,100 salvage value.

12. PUP has one investement currently classified as Available for Sale, as of 12/31/19 the fair value of the investment is $2,310.

13.PUP remits the state's 6% sales tax during the first week of the month following the end of each quarter. Based on PUP's 12/31/19 sales tax liability, what were PUP's total 4th quarter 2019 pre-tax sales?

14.The tax rate is 30% which affects all items of income and expense at the same rate.Hint: you must determine income before taxes to calculate income tax expense. (Round total income tax expense to nearest whole dollar)

15.The 30% tax rate applies to "other comprehensive income" items as well as income statement items.

16PUP declared and paid $0.10 /per share in dividends during the year 2019.100,000 shares of stock were outstanding during the entire year. Close the Dividend account as part of closing entries, no adjusting entry is needed for this.)