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 $$51,300$ on June $30$ of the prior year, and the owner invested $$27,000$ cash during the current fiscal year. ACE CONSTRUCTION COMPANY Unadjusted Trial Balance June $30$ Number Account Title Debit Credit $101$ Cash $ $18,500126$ Supplies $10,000128$ Prepaid insurance $6,000167$ Equipment $129,620168$ Accumulated depreciation$$Equipment $ $22,500201$ Accounts payable $6,200203$ Interest payable $0208$ Rent payable $0210$ Wages payable $0213$ Property taxes payable $0251$ Long$-$term notes payable $28,000301$ V$.$ Ace, Capital $78,300302$ V$.$ Ace, Withdrawals $30,500403$ Construction revenue $130,000612$ Depreciation expense$$Equipment $0623$ Wages expense $45,000633$ Interest expense $3,080637$ Insurance expense $0640$ Rent expense $11,000652$ Supplies expense $0683$ Property taxes expense $5,000684$ Repairs expense $2,000690$ Utilities expense $4,300$ Totals $ $265,000$ $ $265,000$ Adjustments: Supplies available at the end of the current fiscal year total $$3,600.$ Cost of expired insurance for the current fiscal year is $$3,780.$ Annual depreciation on equipment is $$8,400.$ June utilities expense of $$530$ is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $$530$ amount owed must be recorded. Employees have earned $$1,500$ of accrued and unpaid wages at fiscal year$-$end. Rent expense incurred and not yet paid or recorded at fiscal year$-$end is $$200.$ Additional property taxes of $$600$ have been assessed for this fiscal year but have not been paid or recorded at fiscal year$-$end. $$280$ of accrued interest for June has not yet been paid or recorded. Required: $1.$ Prepare a $10-$column work sheet for the current fiscal year, starting with the unadjusted trial balance and including adjustments using the above additional information. $2$a$.$ Prepare the adjusting entries $($all dated June $30).2$b$.$ Prepare the closing entries $($all dated June $30).3$a$.$ Prepare the income statement for the year ended June $30.3$b$.$ Prepare the statement of owner's equity for the year ended June $30.3$c$.$ Prepare the classified balance sheet at June $30.$ The following unadjusted trial balance is for Ace Construction Company at its June $30$ current fiscal year$-$end. The credit balance of the V$.$ Ace, Capital account was $$51,300$ on June $30$ of the prior year, and the owner invested $$27,000$ cash during the current fiscal year. ACE CONSTRUCTION COMPANY Unadjusted Trial Balance June $30$ Number Account Title Debit Credit $101$ Cash $ $18,500126$ Supplies $10,000128$ Prepaid insurance $6,000167$ Equipment $129,620168$ Accumulated depreciation$$Equipment $ $22,500201$ Accounts payable $6,200203$ Interest payable $0208$ Rent payable $0210$ Wages payable $0213$ Property taxes payable $0251$ Long$-$term notes payable $28,000301$ V$.$ Ace, Capital $78,300302$ V$.$ Ace, Withdrawals $30,500403$ Construction revenue $130,000612$ Depreciation expense$$Equipment $0623$ Wages expense $45,000633$ Interest expense $3,080637$ Insurance expense $0640$ Rent expense $11,000652$ Supplies expense $0683$ Property taxes expense $5,000684$ Repairs expense $2,000690$ Utilities expense $4,300$ Totals $ $265,000$ $ $265,000$ Adjustments: Supplies available at the end of the current fiscal year total $$3,600.$ Cost of expired insurance for the current fiscal year is $$3,780.$ Annual depreciation on equipment is $$8,400.$ June utilities expense of $$530$ is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $$530$ amount owed must be recorded. Employees have earned $$1,500$ of accrued and unpaid wages at fiscal year$-$end. Rent expense incurred and not yet paid or recorded at fiscal year$-$end is $$200.$ Additional property taxes of $$600$ have been assessed for this fiscal year but have not been paid or recorded at fiscal year$-$end. $$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. $2$a$.$ Prepare the adjusting entries $($all dated June $30).2$b$.$ Prepare the closing entries $($all dated June $30).3$a$.$ Prepare the income statement for the year ended June $30.3$b$.$ Prepare the statement of owner's equity for the year ended June $30.3$c$.$ Prepare the classified balance sheet at June $30.$