The data needed to determine year-end adjustments are as follows: (a) Supplies on hand at March 31 are $7,000. (b) Insurance premiums expired during year are $3,000. (c) Depreciation of equipment during year is $8,550. (d) Depreciation of trucks during year is $6,100. (e) Wages accrued but not paid at March 31 are $500. Required: 1. For each account listed in the trial balance, enter the balance in the appropriate Balance column of a four-column account and select the check mark in the Post. Ref. column. 2. (Optional) On your own paper or spreadsheet, enter the unadjusted trial balance on an end-of-period work sheet and complete the work sheet. 3. a. Journalize the adjusting entries on Page 26 of the journal. Adjusting entries are recorded on March 31. b. Post the adjusting entries to the ledger, inserting balances in the accounts affected. 4. Prepare an adjusted trial balance. 5. a. Prepare an income statement for the year ended March 31, 20 Y4. b. Prepare a statement of stockholders' equity for the year ended March 31, 20Y4, additional common stock of $6,000 was issued. c. Prepare a balance sheet as of March 31, 20 Y4. 6. a. Journalize the closing entries on page 27 of the journal. (Note: Complete the adjusted trial balance, the income statement, the statement of stockholders' equity, and the balance sheet BEFORE completing part 6 . a.) b. Post the closing entries, inserting balances in the accounts affected. 7. Prepare a post-closing trial balance. Labels Current assets Current liabilities Expenses For the Year Ended March 31, 20 Y4 March 31, 20Y4 Property, plant, and equipment Revenues Amount Descriptions Book value-equipment Book value-trucks Balances, April 1, 20Y3 Balances, March 31, 20Y4 Dividends Issued common stock Net income Net loss Total assets Total current assets Total expenses Total liabilities Total liabilities and stockholders' equity Total property, plant, and equipment Total stockholders' equity CHART OF ACCOUNTS Lakota Freight Co. General Ledger ASSETS REVENUE 11 Cash 41 Service Revenue 13 Supplies 14 Prepaid Insurance EXPENSES 16 Equipment 51 Wages Expense 17 Accumulated Depreciation-Equipment 52 Supplies Expense 18 Trucks 53 Rent Expense 19 Accumulated Depreciation-Trucks 54 Truck Expense 55 Depreciation Expense-Equipment LIABILITIES 56 Depreciation Expense-Trucks 21 Accounts Payable 57 Insurance Expense 22 Wages Payable 59 Miscellaneous Expense EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends