The Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company's fiscal year end. Credit $ Debit 10300 9.500 2000 7200 78.000 20,000 $ 7,700 Accounts Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Eamings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense 5300 79,000 19,700 42200 24.500 2400 S 152,900 $ 153.900 In addition, the company had the following year-end adjusting entries. General Journal Post Rel. Date Debit Credit Description Adjusting Entries Salaries Expense Salaries Payable la 2.100 2100 b. 800 Interest Receivable Interest Revenue 800 c 1300 Supplies Expense Supplies 1.300 3,300 d. Deferred Revenue Service Revenue 3,300 e 5,400 Rent Expense Prepaid Rent 5,400 1. 200 Utilities Expense Utilities Payable 200 In addition, the company had the following year-end adjusting entries. General Journal Post Ref. Date Debit Credit Description Adjusting Entries Salaries Expense Salaries Payable a 2.100 2100 b. 800 Interest Receivable Interest Revenue 800 1300 - Supplies Expense Supplies 1,300 d. 3,300 Deferred Revenue Service Revenue 3,300 e. 5,400 Rent Expense Prepaid Rent 5,400 . 200 Utilities Expense Utilities Payable 200 Required: Complete the following steps: 1. Enter the unadjusted balances from the trial balance into the general ledger. 2. Post the adjusting entries to the accounts. 3. Prepare an adjusted trial balance. 4. Prepare an income statement and a statement of shareholders' equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock is issued during the year. 5. Record closing entries. 6. Post closing entries to the accounts. 7. Prepare a post-closing trial balance