Consider the unadjusted trial balance of Lady, Inc. at December 31, 2016, and the related month-end adjustment data. A (Click the icon to view the month-end adjustment data.) Requirements 1. Using the worksheet, prepare the adjusted trial balance of Lady, Inc. at December 31, 2016. The unadjusted balances have been entered for you. Key each adjusting entry by letter. 2. Prepare the single-step monthly income statement, the statement of retained earnings, and the classified balance sheet. Requirement 1. Using the worksheet, prepare the adjusted trial balance of Lady, Inc., at December 31, 2016. The unadjusted balances have been entered for you. Key each adjusting entry by letter. Calculate the total debits and credits. Then calculate the adjusted balance of each account and total the debit and credit columns in the adjusted trial balance. Consider the unadjusted trial balance of Lady, Inc. at December 31, 2016, and the related month-end adjustment data. O (Cick the icon to view the month-end adjustment data.) Requirements 1. Using the worksheet, prepare the adjusted trial balance of Lady. Inc. at December 31, 2016. The unadjusted balances have been entered for you. Key each adjusting entry by letter, 2. Prepare the single-step monthly income statement, the statement of retained earnings, and the classified balance shoet. Requirement 1. Using the worksheet, prepare the adjusted trial balance of Lady, Inc., at December 31, 2016. The unadjusted balances have been entered for you. Key each adjusting entry by letter. Calculate the total debits and credits. Then calculate the adjusted balance of each account and total the debit and credit columns in the adjusted trial balance. More Info Adjustment data at December 31, 2016: a. Accrued service revenue at December 31, $2,980. b. Prepaid rent expired during the month. The unadjusted prepaid balance of $1,800 relates to the period December 1, 2016 through February 28, 2017. c. Supplies used during December, $1,660. d. Depreciation on furniture for the month. The estimated useful life of the furniture is five years. e. Accrued salary expense at December 31 for Monday, Tuesday and Wednesday. The five-day weekly payroll of $18,000 will be paid on Friday. Print Done December 31, 2016 Trial Balance Adjustments Adjusted Trial Balance Account Debit Credit Debit Credit Debit Credit Cash 8,400 Accounts receivable 1,500 a. 2,980 Prepaid rent 1,800 b. 800 Supplies 2,000 c. 1,660 Furniture 72,000 Accumulated depreciation, furniture 4,000 d. Accounts payable 3,200 Salary payable Common stock 7,000 Retained earnings 53,840 Dividends 4,500 Service revenue 25,200 Salary expense 2,500 Rent expense Utilities expense 540 Depreciation expense Supplies expense 93,240 93,240 Total Requirement 2. Prepare the single-step monthly income statement, the statement of retained earnings, and the classified balance sheet. Begin by preparing the income statement. (If a box is not used in the statement leave the box empty; do not select a label or enter a zero.) Review the adjusted trial balance completed in Requirement 1. Month Ended December 31, 2016 Lady, Inc. Statement of Retained Earnings Month Ended December 31, 2016 Add: Subtotal Less: Finally, prepare the balance sheet. (If a box is not used in the statement leave the box empty; do not select a label or enter a zero.) Review the adjusted trial balance completed in Requirement 1. December 31, 2016 Assets Liabilities Stockholders' Equity Less: