Question #2 (74 marks) On the next page is the worksheet for Ocean Store, which has been completed up to the point of the adjusted trial balance. Required: (1) Complete the attached worksheet. (2) Prepare a income statement for the year-ended March 31, 2008. (3) Prepare a statement of owner's equity for the year-ended March 31, 2008. (4) Prepare a Classified Balance Sheet as at March 31, 2008. (5) Journalize the closing entries. (Remember that there are four closing entries!) Please note: If you can not get your worksheet to balance then please continue to finish the remaining parts of the test, so that I can award part marks to you!

Account Adjusted Trial Balance Income Statement Balance Sheet & Statement of Owner's Equity Debit Credit Credit Debit Credit Debit 56,109.00 17.070.00 980.00 2,115.00 2,160.00 1.125.00 9,000,000 1,500.00 18,000.00 2.250.00 700.00 96,930.00 4,800.00 Cash Accounts Receivable Office supplies Computer supplies Prepaid Insurance Prepaid Rent Office Equipment - " . Accum. Amort. Computer Equipment " " . Accum. Amort. Wages Payable Mary Graham - Capital Mary Graham-Withdrawals Interest Revenue Consulting Revenue Amortization Expense - Office Equipment Amortization Expense - Computer Equipment Wages Expense Insurance Expense Rent Expense Computer Supplies Expense Advertising Expense Computer Repairs Expense Vehicle Expense 160.00 22,994.00 750.00 1,125.00 2,600.00 2.160.00 3,375.00 1.005.00 800.00 860.00 500.00 Net Income 124.534.00 124.534.00