Show the effects of the adjusting entries on net earnings and cash. $($If there is no cash flow effect, select "None". Enter any

decreases to account balances with a minus sign.$)$ Prepare the closing entries at December $31.($If no entry is required for a transaction$/$event$,$ select $"$No journal entry

required" in the first account field.$)$

Journal entry worksheet

$1$

$2$

$3$

Record entry to transfer revenues to income summary.

Note: Enter debits before credits. $3-$b$.$ Prepare a statement of financial position at the end of the year.

$\backslash$table$[[$SUTTON$,$ INC.$],[$Statement of Financial Position$],[$As at December $31],[$Assets$],[$Cash$,,$$$,22,900],[$Accounts payable,,,$8,900],[$Service supplies inventory,,,$690],[$Prepaid insurance,,,$810],[$Service trucks, at cost$,,,35,100],[],[,,0],[$Total assets,,$$,68,400],[$Liabilities$],[,,,],[,,,],[,,,],[,,,],[,,,],[$Total liabilities,,,$0],[$Shareholders$\text{'}$ Equity$],[,,,],[,,,],[,,,],[$Total shareholders' equity,,,$0],[$Total liabilities and shareholders' equity,,$$,0]]$

Compute the net earnings for the year, assuming that you did not make an adjustment to the balance of the supplies inventory account. $($Do not round intermediate calculations. Round the final answer to the nearest whole dollar.$)$

Net earningsRequired:

Prepare the adjusting entries at December $31.($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in

the first account field.$)$

Journal entry worksheet

$1$

$2$

$3$

$4$

Record wages incurred but not paid.

Note: Enter debits before credits. COMPLE TE THIS ASAP AND BE $100\%$ ACCURAT. DUE in $1$ HOURS!!