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

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[The following information applies to the questions displayed below.] Pastina Company selis 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 31,2024 , appears below. Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $11,500, 2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15 th, and on the 7 th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31,2024 , were $1,550. 3. On October 1, 2024, Pastina borrowed $53,000 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. 4. On March 1, 2024, the company lent a supplier $23,000, and a note was figned requiring principal and interest at 8% to be paid on February 28,2025. 5. On April 1, 2024, the company paid an insurance company $9,000 for a one-year fire insurance policy. The entire $9,000 was debited to prepaid insurance at the time of the payment. 6.$920 of supplies remained on hand on December 31,2024. 7. The company recelved $3,500 from a customer in December for 1,500 pounds of spaghetti to be dellvered in January 2025. Pastina credited deferred sales revenue at the time cash was received. 8. On December 1, 2024, $2,500 rent was paid to the owner of the building. The payment represented rent for December 2024 and January 2025 at $1,250 per month. The entire amount was debited to prepaid rent at the time of the payment. Required: 1 to 3 . First, post the unadjusted balances from the unadjusted trial balance that was given and the adjusting entries that were made in Problem 2.3 into the appropriate T-accounts (on the T-accounts tab). Then prepare an adjusted trial balance. 4-a. Prepare an income statement for the year ended December 31, 2024. Assume that no common stock was issued during the year and that $7,000 in cash dividends were paid to shareholders during the year. 4-b. Prepare a statement of shareholders' equity for the year ended December 31, 2024, Assume that no common stock was issued during the year and that $7,000 in cash dividends were paid to shareholders during the year. 4-c. Propare a classified balance sheet as of December 31,2024 . Assume that no common stock was issued during the year and that $7,000 in cash dividends were paid to shareholders during the year. 5. Prepare closing entries and post to the T-accounts (on the T-accounts tab). 6. Prepare a post-closing trial balance. 2 (1) Required information

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