Step 1 - Journalize the transactions and adjusting entries Record the transactions and adjusting entries for TOP Inc. in the general journal.. Use only the accounts provided. Step 2 - Post the transactions and adjusting entries to the T-accounts Post your journal entries to the T-Accounts. The amounts already in the T-Accounts are the beginning balances and should be included in your balances. Use a red pencil to identify each transaction starting with "a". Do not add any new accounts, all the accounts you need have already been set up. Step 3 - Prepare a Trial Balance Prepare a trial balance. The total of the Trial Balance should be $4,489,500. If your balance does not agree, make any necessary corrections before you proceed. Step 4 - Prepare the Income Statement Prepare an Income Statement in good form. The Net Income should be $681,957. - Prepare a Retained Earnings Statement and Balance Sheet Prepare the Retained Earnings Statement and the Balance Sheet. The Total Assets should be $3,158,382