The following unadjusted trial balance is for Ace Construction Company at its June 30 current fiscal year-end. The credit balance of the Retained Earnings account was $78,660 on June 30 of the prior year.

ACE CONSTRUCTION COMPANY
Unadjusted Trial Balance
June 30
Number	Account Title	Debit	Credit
101	Cash	$ 18,500
126	Supplies	9,900
128	Prepaid insurance	7,200
167	Equipment	132,000
168	Accumulated depreciationEquipment		$ 26,250
201	Accounts payable		6,800
203	Interest payable		0
208	Rent payable		0
210	Wages payable		0
213	Property taxes payable		0
251	Long-term notes payable		25,000
307	Common stock		10,000
318	Retained earnings		78,660
319	Dividends	33,000
403	Construction revenue		132,100
612	Depreciation expenseEquipment	0
623	Wages expense	46,860
633	Interest expense	2,750
637	Insurance expense	0
640	Rent expense	12,000
652	Supplies expense	0
683	Property taxes expense	7,800
684	Repairs expense	2,910
690	Utilities expense	5,890
	Totals	$ 278,810	$ 278,810

Adjustments:

1. Supplies available at the end of the current fiscal year total $3,300.
2. Cost of expired insurance for the current fiscal year is $3,800.
3. Annual depreciation on equipment is $8,400.
4. June utilities expense of $650 is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $650 amount owed must be recorded.
5. Employees have earned $1,800 of accrued and unpaid wages at fiscal year-end.
6. Rent expense incurred and not yet paid or recorded at fiscal year-end is $500.
7. Additional property taxes of $1,000 have been assessed for this fiscal year but have not been paid or recorded at fiscal year-end.
8. $250 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 retained earnings for the year ended June 30.

3c. Prepare the classified balance sheet at June 30.