The Following trial balance was taken from the books of Fisk Corporation on December 31,2007

(a) use the information below, complete a ten column worksheet

(b) prepare necessary adjusting entries

(c) prepare necessary closing entries

(d) prepare income statement

(e) prepare balance sheet

(f) prepare a post closing trial balance

The following trial balance was taken from the books of Fisk Corporation on December 31, 2007. Account Cash Accounts Receivable $.12.10 40,000 7,000 Note Receivable Allowance for Doubtful Accounts Merchandise Inventory 44,000 Prepaid Insurance 4800 Furniture and Equipment 125,000 Accumulated Depreciation-F. & E. 15,000 Accounts Payable Common Stock Retained Earnings 10,800 44,000 55,000 Sales Cost of Goods Sold Salaries Expense 280,000 111,000 50,000 12,800 Rent Expense Totals SA06.500 At year end, the following items have not yet been recorded. a Insurance expired during the year, $2,000 b. Estimated bad debts, 1% of gross sales. c. Depreciation on furniture and equipment, 10% per year. d. Interest at 6% is receivable on the note for one full year. e Rent paid in advance at December 31, 55,400 (originally charged to expense) 1. Accrued salaries at December 31, S5,800. Instructions (a) Using the above information, complete a ten-column worksheet. (b) Prepare the necessary adjusting entries. (c) Prepare the necessary dosing entries (d) Prepare a properly labeled income statement (0) Prepare a properly labeled balance sheet. (1) Prepare a post-closing trial balance