S&S Supplies Trial Balance December 31, 2016 A/C Name Trial Balance Debit Credit Cash 4.000,000 600,000 Allowance for Uncollectible Accounts 20,000 24,500 120,000 4.000,000 Furniture Accumulated Leasehold Accumulated depreciation -L Accounts payable Interest Payable Salaries Note ciation Furniture 210,000 ble 379,250 7,680,000 erm S&S.Capital S&S, Withdrawal Sales revenue Cost of Salary e Telephone e Utilities E Uncollectible account E De 200,000 8.000,000 610,000 125,000 110,000 ation e tion e Funiture Rent e 520,000 Interest e 84.750 16,289,250 16,289,250 The following additional information is available at Dec 31, 2016: (i) Supplies on hand at Dec 31, 2016 amounted to S10,000. (ii) $80,000 of the prepaid rent expired as at December 31, 2016. (iii) The Furniture was purchased on January 1st, 2016 and is being depreciated over five (5) years on the double-declining method of deprecation down to a residue of $100,000. iili) 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 S120,000 at December 31,2016. (vi Accrued interest expense due on the notes payable at December 31,2016 amounted to $5,250 (vii) 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 1. Prepare the necessary adjusting journal entries on December 31, 2016 2. Prepare the multi-step Income Statement for the year ended December 31,2016 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