Required: 1. Prepare an income statement for the year ended December 31, 2015. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons() on the income statement 2. Prepare a statement of stockholders' equity for the year ended December 31 2075. During the year, common stock of $30,000 was issued a net loss is incurred or dividends were paid enter that amount as a negative number using a minus sign Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Refer to the Chart of Accounts for exact wording of account titles 3. Prepare a balance sheet as of December 31, 2015 Freed assets must be entered in order according to account number Be sure to complete the statement heading Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entnes Refer to the Chart of Accounts for exact wording of account titles. For those boxes in which you must enter subtracted or negative numbers use a mus sign 4. Based upon the end-of-period spreadsheet, journalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles 5 Prepare a post-closing trial balance. Beacons Company maintains and repairs warning lights, such as those found on radio towers and lighthouses Beacons Company prepared the following end-of-period spreadsheet at December 31, 2005, the end of the fiscal year Beacons Company End-of-Period Spreadsheet For the Year Ended December 31, 2045 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr . Dr. Cr Dr Cr. Cash 10,200 10,200 Accounts Receivable 38,200 (a) 9,200 47.400 4,000 (b) 3,250 750 Prepaid Insurance Supples 2,760 (c) 2,180 580 Land 98,000 98,000 Building 406,000 406,000 Accumulated Depreciation-Building 205,300 (d) 12,000 217,300 Equipment 104,000 104,000 85 100 (e) 4,600 89,700 15,800 15,800 Accumulated Depreciation Equipment Accounts Payable Salaries and Wages Payable Unearned Rent (15,000 5,000 2,500 (g) 1,700 800 Common Stock 85,000 85,000 Retained Earnings 124,530 124,530 Dividends 10,000 10,000 Fees Earned 363,600 (a) 9,200 372,800 Rent Revenue (g) 1,700 1,700 Salaries and Wages Expense 159,000 (1) 5,000 164,000 Advertising Expense 21,200 21,200 Utilities Expense 15,600 15,600 (d) 12,000 12,000 8,850 8,850 Depreciation Expense-Building Repairs Expense Depreciation Expense-Equipment Insurance Expense Supplies Expense (e) 4,600 4,600 (b) 3,250 3,250 (c) 2,180 2,180 Miscellaneous Expense 4,020 4,020 881,830 881,830 37,930 37,930 912,630 912,630 1. Prepare an income statement for the year ended December 31, 2015. If a net loss has been incurred enter that amount as a negative number using a minus sign. Be sure to complete the statement eaching Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons() on the income statement Beacons Company Income Statement (Label) 1 (Label) 3 scabel) 2 Prepare a statement of stockholders' equity for the year ended December 31, 2045 During the year, common stock of $30,000 was issued. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Refer to the Chort or Accounts for exact wording of account titles Beacons Company Statement of Stockholders' Equity (Label) Common Stock Retained Earnings Total 2 3 4 5 3 Prepare a balance sheet as of December 31, 2045 Foxed assets must be entered in order according to account number. Be sure to complete the statement heading Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Refer to the Chart of Accounts for exact wording of account titles. For those boxes in which you must enter subtracted or negative numbers use a minus sign Beacons Company Balance Sheet (tabol) 1 Assets (Label) Label 4. Based upon the end-of-period spreadsheet, journalize the closing entries Refer to the Chart of Accounts for exact wording of account Miles PAGE 1 JOURNAL DATE POSTRE DEBIT CREDIT ACCOUNTINGELATION ASSETS LIABILITIES KOUTY DESCRIPTION Closing Entries 1 2 10 11 5. Prepare a post-closing trial balance Beacons Company POST-CLOSING TRIAL BALANCE December 31, 2045 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Prepaid Insurance Supplies 5 Land 6 Building 7 Accumulated Depreciation-Building 8 Equipment 9 Accumulated Depreciation-Equipment 10 Accounts Payable 11 Salaries and Wages Payable