Statement of financial position
31-May
Current assets
cash		6400
A/R		13580
Supplies		1340
Prepaid insurance		3640
Total Current assets			24960
Property, plant and equipment
Land			106370
Building		168000
less accumulated depreciation building		25200
Book value buildings			142800
furniture		33600
less accumulated depreciation furniture		20160
booke value furniture			13440
total property, plant and equipment			262610
total assets			287570
Liabilities
Current liabilities
A/P		10380
Deferred revenue		15000
unearned revenue		2800
salaries payable		1590
interest payable		735
income tax payable		1000
Total Current liabilties			31505
long term liabilties
mortgage payable			126000
total liabilities			157505
Stockholders equity
common shares		60000
retained earnings		70065
total change in equity			130065
total liabilities and change in equity			287570

Do the closing entries and then the post closing trial balance