The$$Cullumber$$Hotel opened for business on May $1,2022.$ Here is its trial balance before adjustment on May $31.$CULLUMBER$$HOTELTrial BalanceMay $31,2022$DebitCreditCash$$2263$ Supplies$2,600$Prepaid Insurance$1,800$Land$14,763$ Buildings$70000$Equipment$16,800$Accounts Payable$$4,463$Unearned Rent Revenue$3300$Mortgage Payable$36000$Common Stock$59,763$Rent Revenue$9,000$Salaries and Wages Expense$3,000$Utilities Expense$800$Advertising Expense$500$

$$112,526$$$112,526$Other data:$1.$Insurance expires at the rate of $$450$per month$\mathrm{.}2.$A count of supplies shows $$1120$of unused supplies on May $31\mathrm{.}3.($a$)$ Annual depreciation is $$2880$on the building.$($b$)$ Annual depreciation is $$2,280$on equipment$\mathrm{.}4.$The mortgage interest rate is$5\%.($The mortgage was taken out on May $1.)5.$Unearned rent of $$2,680$has been earned$\mathrm{.}6.$Salaries of $$650$are accrued and unpaid at May $31.1$Journalize the adjusting entries on May $31.($If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.$)2$Prepare a ledger using T$-$accounts. Enter the trial balance amounts and post the adjusting entries.$($Post entries in the order of journal entries presented in the previous question.$)3$Prepare an adjusted trial balance on May $31\mathrm{.}4$Prepare an income statement for the month of May$\mathrm{.}5$Prepare a retained earnings statement for the month of$$May$6$Prepare a classified balance sheet at May $31.($List current assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment $.)$