Required information [The following information applies to the questions displayed below] The December 31, 2024, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Account Title Cash Accounts receivable. Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Debits $ 68,670 Credits 23,750 3,000 36,250 70,000 $ 21,000 25,000 0 Salaries payable Common stock Retained earnings Sales revenue 100,000 17,500 383,000 Cost of goods sold Salaries expense 229,800 76,600 Rent expense 18,000 Depreciation expense 0 Utilities expense 15,320 Advertising expense 5,110 Totals $ 546,500 $ 546,500 The following year-end adjusting entries are required: a Depreciation expense for the year on the equipment is $7,000. b. Salaries at year-end should be accrued in the amount of $5,000 13 Required 1. Prepare and complete a worksheet Balance Sheet Credit Account Title Debit WOLKSTEIN DRUG COMPANY Worksheet December 31, 2024 Adjusted Trial Balance Unadjusted Trial Balance Adjusting Entries Credit Debit Credit Debit Credit Income Statement Debit Credit Dubl Cash 68.670 Accounts receivable 23,750 Prepaid rent 3,000 ventory 36.250 Equipment 70,000 Accumulated depreciation 21,000 Accounts payable 25,000 Salanes payable 0 Common stock 100,000 Retained eamings 17,500 Sales revenue 383,000 Cost of goods sold 229,800 Salaries expense 76.600 Rent expense 18,000 Depreciation expense Utilities expense 15,320 Advertising expense 5,110 Net income Totals 546,500 546,500