[The following information applies to the questions displayed below.) Jaguar Auto Company provides general car maintenance to customers. The company's fiscal year-end is December 31. The December 31, 2018, trial balance (before any adjusting entries) appears below. Accounts Debits Credits Cash $ 18,000 Accounts Receivable 14,200 Supplies 23,000 Prepaid Insurance 19,200 Equipment 87,000 Accumulated $ 28,000 Depreciation Accounts Payable 11,200 Salaries Payable 0 Utilities Payable Interest Payable 0 Notes Payable 31,000 Common Stock 27,000 Retained Earnings 9,200 Dividends 2,200 Service Revenue 222,400 Salaries Expense 154,000 Depreciation Expense Insurance Expense Supplies Expense Utilities Expense 11,200 Interest Expense 0 O Totals $328,800 $328,800 31,000 27,000 9,200 2,200 222,400 Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Depreciation Expense Insurance Expense Supplies Expense Utilities Expense Interest Expense 154,000 0 0 11,200 0 Totals $328,800 $328,800 Information necessary to prepare the year-end adjusting entries appears below. a. Depreciation on the machines for the year is $9.200. b. Employee salaries are paid every two weeks. The last pay period ended on December 23. Salaries earned from December 24 through December 31, 2018, are $3,200. c. On September 1, 2018, Jaguar borrows $31,000 from a local bank and signs a note. The note requires interest to be paid annually on August 31 at 9%. The principal is due in five years, d. On March 1, 2018, the company purchases insurance for $19,200 for a one-year policy to cover possible injury to mechanics. The entire $19,200 was debited to Prepaid Insurance at the time of the purchase. e. $4,200 of supplies remains on hand at December 31, 2018. f. On December 30, Jaguar receives a utility bill of $1,800 for the month. The bill will not be paid until early January 2019, and no entry was recorded when the bill was received. naro an artistarl trial balance 3. Prepare an adjusted trial balance. JAGUAR AUTO COMPANY Adjusted Trial Balance December 31, 2018 Debit Accounts Credit S d. On March 1, 2018, the company purchases Insurance for $19,200 for a one-year policy to cover possib! y to mechanics. The entire $19,200 was debited to Prepaid Insurance at the time of the purchase. e. $4,200 of supplies remains on hand at December 31, 2018 f. On December 30, Jaguar receives a utility bill of $1,800 for the month. The bill will not be paid until early January and no entry was recorded when the bill was received, 4-a. Prepare an income statement for the year ended December 31, 2018. (Loss amount should be indicated by a minu JAGUAR AUTO COMPANY Income Statement For the Year Ended December 31, 2018 Expenses: Total expenses 0 Total expenses 0 of 5 4-b. Prepare a statement of shareholders' equity for the year ended December 31, 2018. Assume that no common stock is issued during the year. (Amounts to be deducted should be indicated by a minus sign.) JAGUAR AUTO COMPANY Statement of Stockholders' Equity For the Year Ended December 31, 2018 Retained Common Stock Earnings ces Total Stockholders Equity Balance at January 1 Balance at December 31 CE 4-c. Prepare a classified balance sheet for the year ended December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) JAGUAR AUTO COMPANY Balance Sheet December 31, 2018 Assets Liabilities Current assets: Current liabilities: 0 Total current assets Long-term assets: 0 Total current liabilities Long-term liabilities: Total liabilities $ 0 Stockholders' Equity 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0 Total assets 5. Record closing entries and then post them to the T-accounts provided above. (If no entry is required for a transaction/event.se "No journal entry required" in the first account field.) View transaction list Journal entry worksheet