Record the entries (4-15):

part c. Post entries to T-Accounts:

part d. Prepare a multistep income statement, a statement of changes in stockholders equity, a balance sheet, and a statement of cash flows for year 2.

part e. Use a single general journal to close all revenue, gain, and expense accounts to the retained earnings account. Post the journal entry to the ledger accounts created in Part c and prepare a post-closing trial balance.