Problem 20-7 Completing End-of-Period Activities The account balances for River's Edge Canoe & Kayak as of December 31, the end of the period, are shown in the Trial Balance of the work sheet. 1. Complete the work sheet. Use the following adjustment information. The totals will be automatically calculated. Merchandise inventory, December 31 Supplies inventory, December 31 Unexpired insurance, December 31 Total federal corporate income taxes for the year $ 20,000 900 1,800 2,965