The following unadjusted trial balance is for Ace Construction Company at its June 30 current fiscal year-end. The credit balance of the V. Ace, Capital account was $53,400 on June 30 of the prior year, and the owner invested $25,000 cash during the current fiscal year. Account Title Supplies Prepaid insurance Equipment ACE CONSTRUCTION COMPANY Unadjusted Trial Balance June 30 Accumulated depreciation-Equipment Accounts payable Number 101 Cash 126 128 167 168 201 203 Interest payable 208 Rent payable 210 Wages payable 213 251 301 302 Property taxes payable Long-term notes payable V. Ace, Capital Debit $ 18,000 7,000 6,500 Credit 132,420 $ 27,500 6,600 0 28,000 78,400 V. Ace, Withdrawals 32,000 403 Construction revenue 131,000 612 Depreciation expense-Equipment 0 623 Wages expense 50,000 633 Interest expense 3,080 637 Insurance expense B 640 Rent expense 12,000 652 Supplies expense B 683 Property taxes expense 4,800 684 Repairs expense 2,300 690 Utilities expense 3,400 Totals $ 271,500 $ 271,500 Adjustments: . Supplies available at the end of the current fiscal year total $2.520. b. Cost of expired insurance for the current fiscal year is $4,095. c. Annual depreciation on equipment is $8,200. d. June utilities expense of $520 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $520 amount owed must be recorded. e. Employees have earned $1,900 of accrued and unpaid wages at fiscal year-end. f. Rent expense incurred and not yet paid or recorded at fiscal year-end is $100. g. Additional property taxes of $600 have been assessed for this fiscal year but have not been paid or recorded at fiscal year-end. h. $280 of accrued interest for June has not yet been paid or recorded. Required: 1. Prepare a 10-column work sheet for the current fiscal year, starting with the unadjusted trial balance and including adjustments using the above additional information. 20. Prepare the adjusting entries (all dated June 30). 2b. Prepare the closing entries (all dated June 30). 3a. Prepare the income statement for the year ended June 30. 3b. Prepare the statement of owner's equity for the year ended June 30. 3c. Prepare the classified balance sheet at June 30. Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Required 3A Required 38 Required 3C Prepare a 10-column work sheet for the current fiscal year, starting with the unadjusted trial balance and including adjustments using the above additional information. ACE CONSTRUCTION COMPANY Work Sheet For Year Ended June 30 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Number Account Title Debit Credit Debit Credit Debit Credit Debit Credit 101 126 Cash $ 18,000 Supplies 128 Prepaid insurance 7,000 6,500 167 Equipment 132,420 168 Accumulated depreciation-Equipment 201 Accounts payable 27,500 6,600 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 251 Long-term notes payable 301 V. Ace, Capital 302 V. Ace. Withdrawals 403 Construction revenue 28,000 78,400 32,000 131,000 612 Depreciation expense-Equipment 623 Wages expense 50,000 633 Interest expense 3,080 637 Insurance expense 640 Rent expense 12,000 652 Supplies expense 683 Property taxes expense 4,800 684 Repairs expense 2,300 690 Utilities expense 3,400 Totals $271,500 $ 271,500 Net Income Totals < Required 1 Required 2A > Balance Sheet and Statement of Owner's Equity Debit Credit