Retained Earnings Beg. bal. 9,100 Closing 3,150 62,550 X Closing Closing 67,450 0 0 0 End. bal. 1,050 The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances: Credits Debits 29,300 17,000 29,000 Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total 8,700 9,500 48,000 9, 100 75,300 75,300 The following is a summary of the transactions for the year: a. Service revenue, $130,000, of which $39,000 was on account and the balance was received in cash. b. Collected on accounts receivable, $26,200. c. Issued shares of common stock in exchange for $15,000 in cash. d. Paid salaries, $47,500 (of which $9,500 was for salaries payable at the end of the prior year). e. Paid miscellaneous expense for various items, $25,600. f. Purchased equipment for $17,500 in cash. g. Paid $3,150 in cash dividends to shareholders. 1. Accrued salaries at year-end amounted to $950. 2. Depreciation for the year on the equipment is $2,900. Required: 2., 5, & 8. Prepare the summary, adjusting and closing entries for each of the transactions listed. 3. Post the transactions, adjusting and closing entries into the appropriate t-accounts. 4. Prepare an unadjusted trial balance. 6. Prepare an adjusted trial balance. 7-a. Prepare an income statement for 2021. 7-b. Prepare a balance sheet as of December 31, 2021. 9. Prepare a post-closing trial balance