The following information applies to the questions displayed below Pastina Company sells various types of pasta to grocery chains as private label brands The company's reporting year end is December 31 The unadjusted trial balance as of December 31, 2021, appears below Account TitleDebitsCreditsCash33,800Accounts receivable41,800Supplies2,400Inventory61,800Notes receivable21,800Interest receivable0Prepaid rent1,800Prepaid insurance7,800Office equipment87,200Accumulated depreciation32,700Accounts payable32,800Salaries payable0Notes payable51,800Interest payable0Deferred sales revenue2,900Common stock72,600Retained earnings33,000Dividends5,800Sales revenue155,000Interest revenue0Cost of goods sold79,000Salaries expense19,800Rent expense11,900Depreciation expense0Interest expense0Supplies expense2,000Insurance expense0Advertising expense3,900Totals380,800380,800 Information necessary to prepare the year end adjusting entries appears below Depreciation on the office equipment for the year is $10,900 Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month Salaries earned from December 16 through December 31, 2021, were $1,200 On October 1, 2021, Pastina borrowed $51,800 from a local bank and signed a note The note requires interest to be paid annually on September 30 at 12 The principal is due in 10 years On March 1, 2021, the company lent a supplier $21,800 and a note was signed requiring principal and interest at 8 to be paid on February 28, 2022 On April 1, 2021, the company paid an insurance company $7,800 for a one year fire insurance policy The entire $7,800 was debited to prepaid insurance $740 of supplies remained on hand at December 31, 2021 A customer paid Pastina $2,900 in December for 1,200 pounds of spaghetti to be delivered in January 2022 Pastina credited deferred sales revenue On December 1, 2021, $1,800 rent was paid to the owner of the building The payment represented rent for December 2021 and January 2022 at $900 per month The entire amount was debited to prepaid rent 4 Pleas Prepare an income statement and a statement of shareholders' equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021 Assume that no common stock was issued during the year and that $5,800 in cash dividends were paid to shareholders during the year 5 Prepare closing entries 6 Prepare a post closing trial balance

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[The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's

[The following information applies to the questions displayed below.]

Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below.

Account TitleDebitsCreditsCash33,800Accounts receivable41,800Supplies2,400Inventory61,800Notes receivable21,800Interest receivable0Prepaid rent1,800Prepaid insurance7,800Office equipment87,200Accumulated depreciation32,700Accounts payable32,800Salaries payable0Notes payable51,800Interest payable0Deferred sales revenue2,900Common stock72,600Retained earnings33,000Dividends5,800Sales revenue155,000Interest revenue0Cost of goods sold79,000Salaries expense19,800Rent expense11,900Depreciation expense0Interest expense0Supplies expense2,000Insurance expense0Advertising expense3,900Totals380,800380,800

Information necessary to prepare the year-end adjusting entries appears below.

Depreciation on the office equipment for the year is $10,900.
Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $1,200.
On October 1, 2021, Pastina borrowed $51,800 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.
On March 1, 2021, the company lent a supplier $21,800 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.
On April 1, 2021, the company paid an insurance company $7,800 for a one-year fire insurance policy. The entire $7,800 was debited to prepaid insurance.
$740 of supplies remained on hand at December 31, 2021.
A customer paid Pastina $2,900 in December for 1,200 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.
On December 1, 2021, $1,800 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $900 per month. The entire amount was debited to prepaid rent.

4.Pleas Prepare an income statement and a statement of shareholders' equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock was issued during the year and that $5,800 in cash dividends were paid to shareholders during the year.

5.Prepare closing entries.

6.Prepare a post-closing trial balance.