REQUIRED: The following account balances were taken from the ledger of ABC Company at December 31 2018 before adjustments Prepare an adusting entry page with all the necessary entries. Prepare a 10 clumn worksheet. Prepare an Income Statement, Statement of Retained Eamings, and a classified Balance Sheet. No common stock was issued. Cash Accounts Receivable Allowance for Doubtful Accounts S 42,000 86.000 2.400 Land Buildings Accumulated Depreciation--Buildings Long Term Investments Accounts Payable Mortgage Payable Capital Stock, $5 par Retained Earnings, December 31, 2017 Dividends Sales Sales Returns Sales Discounts Cost of Goods Sold Selling Expenses Administrative Expenses Supplies Expense Insurance Expense Taxes--Property & Payroll Interest Revenue Interest Expense 97,000 62,300 42,500 32,560 31,500 51,800 122,500 200,000 26,950 40,540 431,000 9.560 8.440 203,420 58,300 44,200 5,100 12,000 15.800 750 9,300 Information lating to adjustments on December 31, 2018, follows (a) Allowance for Doubtful Accounts should be increased by $2,200 (b) Buildings have a salvage value of $7,500. Buildins are being depreciated at the rate of 10% per year (c) Accrued selling expenses are S9,300. (d) Supplies on hand at year-end are S850 (e) Prepaid insurance relating to 2018 totals $3,800 (this is the amount of unexpired insurance at year-end). (f) Interest revenue earned in 2018 totals to $1,900 (g) Accrued property and payroll taxes for the year equal 3,550. (h) Accrued interest on the mortage is 1,980 (1) Income tax is estimated to be 40% of income