Select All asd acccenpaingdata ere presest oer the year ended Decenber 31, 2016 &5 Sugples Trial Belance Deeember 31, 26 Balance folloing addifoa illDee 31, 201 Page 12 Supplian hnd Dec 31, 2016 mouted to S10.000. S80,000 of the prepaid pt ed a at Decmb 31, 2016 (ai)The Funtnee was pudased cea Jaiary 1., 2016xnd ts being deprecated 4er tired) years od tw double-decirng method oe deprecatios daes to a eids of $100,000 v) The Leasehoild Hgrovements hate as estimated wesl Ee of five () years and being depreciated on de saitr-ne ehod doa to a residee of 520,000 Salarias dby ployastyut paid aned to $1.20,000 atDcember 31,2016. C Aphysical oouot of isestory at Deceesber 31, 3016, sereah 5300,000 worth o innestoy os After aalyeng the ouets is the accooers seceivable subsidiary lhdger using the agng (i) Supplies on hand at Dec 31, 2016 amounted to $10,000. (ii) $80,000 of the prepaid rent expired as at December 31, 2016. ii) The Furniture was purchased on January 1, 2016 and is being depreciated over five (5) years on the double - declining method of deprecation down to a residue of $100,000. (iv) The Leasehold Improvements have an estimated useful life of five (5) years and are being depreciated on the straight-line method down to a residue of $20,000. (v) Salaries earned by employees not yet paid amounted to $120,000 at December 31,2016. (n) Accrued interest expense due on the notes payable at December 31,2016 amounted to $5,250 (i A physical count of inventory at December 31, 2016, reveals $100,000 worth of inventory on hand. (viii) After analyzing the accounts in the accounts receivable subsidiary ledger using the aging method, the company's management estimated that uncollectible accounts will be $30,000. Required: 1. Prepare the necessary adjusting journal entries on December 31, 2016 2. Prepare the multi-step Income Statement for the year ended December 31, 20106 3. Prepare the Statement of Owner's Equity for the year ended December 31, 2016 4. Prepare the Balance Sheet as at December 31, 2016