Programs Plus is a retail firm that sells computer programs for home and business use. Programs Plus operates in a state with no sales tax. On December 31, 20x1, its general ledger contained the accounts and balances shown below. ACCOUNTS BALANCES Cash $ 17,280 Dr. Accounts Receivable 28,600 Dr. Allowance for Doubtful Accounts 105 Cr. Merchandise Inventory 64,375 Dr. Supplies 6,940 Dr. Prepaid Insurance 2,780 Dr. Equipment 36,000 Dr. Accumulated Depreciation Equipment 11,100 CE Notes Payable 7.464 Cr. Accounts Payable 6,900 Cr. Social Security Tax Payable 660 Cr. Medicare Tax Payable 150 C Yasser Tousson, Capital 95,620 Cr. Yasser Tousson, Drawing 50,000 Dr. Sales 518,980 Cr. Sales Returns and Allowances 10,400 Dr. Purchases 320,030 Dr. Freight in 3,800 Dr. Purchases Returns and Allowances 7,545 Cr. Purchases Discounts 12,140 Cr. Rent Expense 16,500 Dr. Telephone Expense 2,264 Dr. Salaries Expense 94,000 Dr. Payroll Taxes Expense 7,500 Dr. Interest Expense 195 Dr. The data needed for the adjustments on December 31 are as follows: a.-b. Ending merchandise inventory, $68,050. c. Uncollectible accounts, 0.5 percent of net credit sales of $247,000. d. Supplies on hand December 31, $1,120. e. Expired insurance, $1,390. f. Depreciation Expense-Equipment, $6,400. 9. Accrued interest expense on notes payable, $525. h. Accrued salaries, $2,500. 1. Social Security Tax Payable (6.2 percent) and Medicare Tax Payable (1.45 percent) of accrued salaries. The following accounts had zero balances: Salaries Payable Interest Payable Income Summary Supplies Expense Insurance Expense Depreciation Expense-Equipment Uncollectible Accounts Expense Required: 1. Prepare a worksheet for the year ended December 31, 20x1. 2. Prepare a classified income statement. The firm does not divide its operating expenses into selling and administrative expenses 3. Prepare a statement of owner's equity. No additional investments were made during the period. 4. Prepare a classified balance sheet. All notes payable are due within one year, 5. Journalize the adjusting entries. 6. Journalize the closing entries. 7. Journalize the reversing entries. Analyze: By what percentage did the owner's capital account change in the period from January 1, 20X1, to December 31, 20X1