The following is Sheridan Cycle Repair Shop's trial balance at January $31,2024,$ the company's fiscal year end:

SHERIDAN CYCLE REPAIR SHOP

Trial Balance

January $31,2024$

Debit

Credit

Cash

$$3,900$

Accounts receivable

$7,330$

Prepaid insurance

$7,320$

Supplies

$5,940$

Land

$50,700$

Building

$190,500$

Accumulated depreciation$-$building

$$11\mathrm{.}030$

Equipment

$27\mathrm{.}630$

$4\mathrm{.}605$

Accumulated depreciation$-$equipment

$4\mathrm{.}605$

Accounts payable

$7\mathrm{.}100$

Unearned revenue $22\mathrm{.}650$

$1.$ The $12-$month insurance policy was purchased on June $1,2023.$

$2.$ A physical count of supplies shows $$1,380$ on hand on January $31,2024,$

$3.$

The building has an estimated useful life of $50$ years. The equipment has an estimated useful life of nine years.

The mortgage payable has a $5\%$ interest rate Interest is paid on the first day of each month for the previous m

$5.$ By January $31\mathrm{.}2024,$ $$1\mathrm{.}370$ of services related to the unearned revenue have been provided

$6.$ During the next fiscal year, $$4,570$ of the mortgage payable is to be paid. Prepare the adjusting entries.

Prepare an adjusted trial balance.

Prepare an income statement.

Prepare a statement of owner$$s equity. The owner, Henry Dude, invested $$5,000$ cash in the business on November $17,2020.($The investment has been recorded and it is included in the capital account$).$

Prepare a classified balance sheet. The owner, Henry Dude, invested $$5,000$ cash in the business on November $17,2020.($The investment has been recorded and it is included in the capital account$)$

Prepare the closing entries.