Required information Exercise 3-20A Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below) On January 1, 2021, Red Flash Photography had the following balances: Cash, $25,000; Supplies, $9,300; Land. $73,000; Deferred Revenue, $6,300: Common Stock $63,000; and Retained Earnings, $38,000. During 2021, the company had the following transactions: 1. February 15 Tasue additional shares of common stock, $33,000. 2. May 20 Provide services to customers for canh, $40,000, and on account, $45.000 3. Augus 31 Paysalaries to employees for work in 2021, $36,000. 4. October 1 Purchase rental space for one year, $25,000 5. November 17 Purchase supplies on account, 835,000. 6. December 30 Pay dividende, $3,300. The following information is available on December 31, 2021: 1. Employees are owed an additional $5,300 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $6,300 remain on hand, 4. All of the services associated with the beginning deferred revenue have been performed, Exercise 3-20A Part 5 5. Prepare closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 8 Next Required 1 Required 2 Required 3 Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) BOILERMAKER UNLIMITED Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Total Current Assets Long-term Assets 0 Total Current Liabilities Long-term Liabilities: $ 0 Total Liabilities Stockholder's Equity 0 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ Total Assets S 0