Question 2 of 2 10,9 / 25 Prepare an income statement for the month of May 31. Windsor, Inc. Income Statement May 31, 2022 $ $ MacBook Air Windsor, Inc. Trial Balance May 31, 2022 Credit Account Number 101 126 130 Debit $3,220 1.916 2,208 11,040 55,200 13,440 140 141 149 200 201 208 311 429 610 726 Cash Supplies Prepaid Insurance Land Buildings Equipment Notes Payable Accounts Payable Unearned Rent Revenue Common Stock Rent Revenue Advertising Expense Salaries and Wages Expense Utilities Expense $36,800 10,288 3,036 32,200 9,116 552 3,036 828 $91,440 732 $91,440 In addition to those accounts listed on the trial balance, the chart of accounts for Windsor Inc also contains the following accounts and account numbers: No. 142 Accumulated Depreciation -- Buildings, No. 150 Accumulated Depreciation Equipment. No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense. No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense. 1. 2. 3. Prepaid insurance is a 1-year policy starting May 1, 2022. A count of supplies shows $690 of unused supplies on May 31. Annual depreciation is $2,760 on the buildings and $1,344 on equipment The note payable interest rate is 12%. (The note was taken out on May 1 and will be repaid along with interest in 2 years.) Two-thirds of the unearned rent revenue has been earned. Salaries and wages of $885 are unpaid and unrecorded at May 31. 4 5. 6. I (a) Journalize the adjusting entries on May 31. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) No. Date Account Titles and Explanation Debit Credit May 31 1 2 May 31 3 May 31