Sports Life Ltd. had the following accounts and unadjusted balances at April 30, 2022, the end of the company's fiscal year. The accounts are listed alphabetically and have normal debit or credit balances. Accounts payable.... Accounts receivable Accumulated depreciation - Property and equipment $ 13,400 6,200 57,000 Advertising expense.. Cash........ 8,700 13,200 Cost of sales Contributed capital (5,000 shares) Deferred rent revenue 100,000 96,000 6,000 Merchandise inventory.. 10,000 Note payable...... 10,000 Prepaid insurance. 1,800 Property and equipment, at cost 238,000 Retained earnings..... 22,900 Salaries expense 21,500 Sales revenue 200,000 Sales returns and allowances Supplies on hand Utilities expense 2,000 6,600 5,300 The following adjustments at year-end were not made yet: a) The company rents office space to another merchant for $1,000 per month. On February 1, 2022, the company collected $6,000 in advance from the merchant. This amount was credited to the account Deferred rent revenue. b) A year-end count of supplies showed that supplies costing $1,800 are still on hand. c) The balance of the account Prepaid insurance represents a payment made to ProtectAll, Inc. for a 12-month insurance policy that ends on June 30, 2022. d) Salaries of $2,400 were earned by employees during the last week of April 2022. This amount was neither paid nor recorded at April 30, 2022. e) The note payable was issued by the company on January 1, 2022 and bears interest calculated at the rate of 9 percent per year. Both the principal amount ($10,000) and the interest are payable on August 1, 2022. f) Depreciation of the property and equipment equaled $8,500 for the fiscal year. g) The company is subject to an income tax rate of 30 percent. The income tax liability is payable on May 31, 2022. Required: 1. Identify the accounts that are affected by each of the events a) through g) above and the amount of the adjustment. Use the following format to provide your answers. (11 marks) Amount of Transaction Account debited Account credited Adjustment a) b) etc. 2. Prepare a multiple-step (classified) statement of earnings for the fiscal year ended April 30, 2022. The number of shares was outstanding throughout the fiscal year. (13 marks) 3. Identify the accounts that would appear in the Current Assets section of a classified statement of financial position and their adjusted balances as at April 30, 2022. (2 marks)