Problem 1 The Adjusted Trial Balance of Positive Company as of December 31 of the current year is presented below in alphabetical order Accounts Payable Accounts Receivable Accumulated Depreciation Equipment Cash Common Stock Depreciation expense Dividends Equipment Fees Earned/Service Revenue Insurance expense Prepaid Insurance Rent Revenue Retained Earnings Salaries expense Supplies Supplies expense Unearned Rent/Unearned fees $33,000 48,000 9,000 35,000 70,000 7,000 53,000 52,000 9,000 16,000 18,000 21,000 24,000 11,000 3,000 7,000 1. Prepare a Trial Balance as of December 31 2. Compute a. Total Revenues b. Total Expenses c. Net Income d. Total Assets e. Total Liabilities f. Total Equity 3. Prepare closing entries 4. Prepare a post-closing Trial Balance