The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Credits Debits 68,670 23,750 3,000 36,250 70,000 Account Title Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Utilities expense Advertising expense Totals 21,000 25,000 0 100,000 17,500 383,000 229,800 76,600 18,000 0 15,320 5, 110 546,500 546,500 The following year-end adjusting entries are required: a. Depreciation expense for the year on the equipment is $7,000. b. Salaries at year-end should be accrued in the amount of $5,000. Worksheet December 31, 2021 Adjusting Entries Adjusted Trial Balance Dr. Cr. Dr. Cr. Account Title Balance Sheet Unadjusted Trial Balance Dr. Cr. Income Statement Dr. Cr. Dr. Cr. Cash 68,670 23,750 3,000 36,250 70,000 Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation Accounts payable Salaries payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Utilities expense Advertising expense 21,000 25,000 0 100,000 17,500 383,000 229,800 76,600 18,000 0 15,320 5,110 0 0 0 0 Net income Totals 546,500 546,500 0 0 0 0 0 0 0 0