The following accounts appear in the ledger of Celso and Company as of June 30, the end of this fiscal year.

Cash	$ 15,349
Accounts Receivable	13,810
Merchandise Inventory	50,280
Store Supplies	1,935
Prepaid Insurance	1,385
Store Equipment	18,640
Accumulated Depreciation, Store Equipment	6,882
Accounts Payable	10,065
B. E. Celso, Capital	96,524
B. E. Celso, Drawing	30,000
Sales	208,030
Sales Returns and Allowances	1,740
Purchases	133,050
Purchases Returns and Allowances	4,295
Purchases Discounts	3,853
Freight In	8,350
Wages Expense	35,400
Advertising Expense	7,710
Rent Expense	12,000

	The data needed for the adjustments on June 30 are as follows:
a-b.	Merchandise inventory, June 30, $54,600.
c.	Insurance expired for the year, $475.
d.	Depreciation for the year, $4,380.
e.	Accrued wages on June 30, $1,492.
f.	Supplies on hand at the end of the year, $100.

	Required:
1.	Prepare a work sheet for the fiscal year ended June 30.
2.	Prepare an income statement.
3.	Prepare a statement of owners equity. No additional investments were made during the year.
4.	Prepare a balance sheet.
5.	Journalize the adjusting entries.
6.	Journalize the closing entries.
7.	Journalize the reversing entry as of July 1, for the wages that were accrued in the June adjusting entry.