SMC, INC
ADJUSTED TRIAL BALANCE
12/31/2018
ACCOUNT NAME	DEBIT	CREDIT
Cash	40,325
Accounts Receivable	85,000
Inventory	20,000
Supplies	850
Prepaid Rent	2,250
Prepaid Insurance	1,500
Accounts Payable		27,000
Unearned Rent Revenue		1,600
Salaries Payable		6,500
Income Taxes Payable		8,971
Interest Payable		417
Long Term Loan		10,000
Common Stock		50,000
Retained Earnings		28,025
Dividends	9,500
Sales		170,000
Cost of Goods Sold	90,000
Salaries Expense	36,500
Supplies Expense	1,550
Rent Expense	6,750
Insurance Expense	2,100
Rent Revenue		3,200
Interest Expense	417
Income Tax Expense	8,971
TOTALS	305,713	305,713

Journalize and post-closing entries for 2018 and prepare a post-closing trial balance.

SMC, Inc Balance Sheet December 31, 2017 Assets Cash Accounts receivable Inventory Supplies Total asset $34,500 25,000 10.000 Liabilities and Stockholders' Equity Liabilities: Accounts payable Salaries payable Income taxes payable $12.000 1,000 $16,675 Total liabiliti Stockholders' equity: Capital stock (10,000 shares outstanding) Retained earnings $25,000 Total stockholders' equity Total liabilities and stockholders' equity