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 $54,900 on June 30 of the prior year, and the owner Invested $26,000 cash during the current fiscal year. ACE CONSTRUCTION COMPANY Unadjusted Trial Balance June 30 Number Account Title 101 Cash 126 Supplies 128 167 168 201 Prepaid insurance Equipment Accumulated depreciation-Equipment Accounts payable Debit $ 18,500 7,500 5,500 Credit 157,180 $ 29,500 6,200 203 Interest payable 208 Rent payable 210 213 251 Wages payable Property taxes payable Long-term notes payable B 8 301 V. Ace, Capital 22,000 80,900 302 V. Ace, Withdrawals 28,000 403 Construction revenue 146,000 612 Depreciation expense-Equipment 623 Wages expense 44,000 633 Interest expense 2,420 637 Insurance expense 0 640 Rent expense 10,000 652 Supplies expense 683 Property taxes expense 4,700 684 Repairs expense 2,900 690 Utilities expense 3,900 Totals $ 284,600 $ 284,600 Adjustments: a. Supplies available at the end of the current fiscal year total $2,700. b. Cost of expired Insurance for the current fiscal year is $3,465. c. Annual depreciation on equipment is $8,800. d. June utilities expense of $540 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $540 amount owed must be recorded. e. Employees have earned $1,500 of accrued and unpaid wages at fiscal year-end. f. Rent expense incurred and not yet paid or recorded at fiscal year-end is $200. g. Additional property taxes of $900 have been assessed for this fiscal year but have not been paid or recorded at fiscal year-end. h. $220 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. 2a. 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. 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 $54,900 on June 30 of the prior year, and the owner Invested $26,000 cash during the current fiscal year. ACE CONSTRUCTION COMPANY Unadjusted Trial Balance June 30 Number Account Title 101 Cash 126 Supplies 128 167 168 201 Prepaid insurance Equipment Accumulated depreciation-Equipment Accounts payable Debit $ 18,500 7,500 5,500 Credit 157,180 $ 29,500 6,200 203 Interest payable 208 Rent payable 210 213 251 Wages payable Property taxes payable Long-term notes payable B 8 301 V. Ace, Capital 22,000 80,900 302 V. Ace, Withdrawals 28,000 403 Construction revenue 146,000 612 Depreciation expense-Equipment 623 Wages expense 44,000 633 Interest expense 2,420 637 Insurance expense 0 640 Rent expense 10,000 652 Supplies expense 683 Property taxes expense 4,700 684 Repairs expense 2,900 690 Utilities expense 3,900 Totals $ 284,600 $ 284,600 Adjustments: a. Supplies available at the end of the current fiscal year total $2,700. b. Cost of expired Insurance for the current fiscal year is $3,465. c. Annual depreciation on equipment is $8,800. d. June utilities expense of $540 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $540 amount owed must be recorded. e. Employees have earned $1,500 of accrued and unpaid wages at fiscal year-end. f. Rent expense incurred and not yet paid or recorded at fiscal year-end is $200. g. Additional property taxes of $900 have been assessed for this fiscal year but have not been paid or recorded at fiscal year-end. h. $220 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. 2a. 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.