SECTION II Following is a series of adjustments for the entity you have worked on previously Happy Ever After Weddings and Event Catering Service: Assume a December 31,2022 year-end A] A l-year insurance policy was purchased March 31,2022 B] Supplies used, but not recorded, $3,500 as of vear-end C] The equipment, has an estimated 10-year life, with zero salvage value D] 1-year's Interest, at 10%, has accrued, and has not been adiusted E] Unearned Catering Revenue has now been earned - $2,800 F] Salaries for the last week of the year have not been paid - \$1,200 of salaries have accrued, and will be paid in the new year. G] Many December events were catered, most have been paid for, but a small amount is still outstanding at year-end, and payment will be received in the new year $1,200 H] The outstanding telephone bills amount to $,500 Please prepare the iournal entries necessary to record all of the above vear-end adjustments: ADJUSTING JOURNAL ENTRIES: [Explanations are not necessary] Adjusting Entries Happv Ever After Weddings and Event Catering Service, for the year ended December 31, 2022. Happy Ever After Weddings and Event Catering Service UNADJUSTED TRIAL BALANCE December 31,2022 Proare an Adiusted Trial Balance: SECTION III PLEASE PREPARE IN PROPER ORDER: A. INCOME STATEMENT Happy Ever After Weddings And Event Catering Service Income statement Year ended December 31, 2022 Revenues Expenses Wages Expense Catering Serv. Exp Supplies Expense Telephone Exp Insurance Expense Auto Lease Exp Interest Expense Depreciation Expense Total Expenses Profit $ S B. STATEMENT OF OWNER'S EQUITY Happy Ever After Weddings And Event Catering Service Statement of Owner's Equity Year ended December 31, 2022 G.B. Capital, January 1 Add: Profit Less: Drawings G.B. Capital, December 31 C. BA