[The following information applles 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. Debits Credits Cash Accounts Recelvable Supplies Prepaid Insurance Equipment $ 22,000 27000 24,000 $ 37,000 12,000 Saceounts Payabeprecaton 95000 Salarles Payable Utllitles Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Depreclation Expense Insurance Expense Supplies Expense Utilities Expense Interest Expense 35,000 35,000 10,000 3,000 227000 12,000 Totals $356,000 $356,000 Information necessary to prepare the year-end adjusting entries appears below a. Depreciation on the machines for the year is $10,000. 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 $4,000. c. On September 1, 2018, Jaguar borrows $35,000 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 $24,000 for a one-year policy to cover possible injury to mechanics. The entire $24,000 was debited to Prepaid Insurance at the time of the purchase. e. $5,000 of supplies remains on hand at December 31, 2018. f. On December 30, Jaguar receives a utility bill of $2,200 for the month. The bill will not be paid until early January 2019, and no entry was recorded when the bill was received. value: 3. Prepare an adjusted trial balance. JAGUAR AUTO COMPANY Adjusted Trial Balance December 31, 2018 ccounts Debit Credit Totals value: 0.40 points 4-a. Prepare an income statement for the year ended December 31, 2018. (loss amount should be indicated by a minus sign.) JAGUAR AUTO COMPANY Income Statement For the Year Ended December 31, 2018 Expenses Total expenses 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 Total current assets Total current liabilities Long-term assets: Long-term liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Total assets Required information 0.40 points 5. Record closing entries and then post them to the T-accounts provided above. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit 2018 Record entry Clear entry View general journal