The following unadjusted trial balance is for the Company as of December 31^st, 2016. The December 31^st 2015 balance in the owners capital account was $50,000, and the owner invested $40,000 cash in the company during 2016.

	Debit	Credit
Cash	$ 10,000
Supplies	15,000
Prepaid insurance	14,000
Equipment	150,000
Accum. Dep. - Equipment		$ 10,000
Accounts payable		4,650
Interest payable		0
Rent payable		0
Wages payable		0
Property taxes payable		0
Utilities payable		0
Long-term notes payable		30,000
Owners Capital		90,000
Withdrawals	10,000
Fees earned		136,000
Depreciation expense Equip.	0
Wages expense	40,000
Interest expense	1,650
Insurance expense	0
Rent expense	12,000
Supplies expense	0
Property taxes expense	9,000
Repairs expense	4,000
Utilities expense	5,000
Totals	$270,650	$270,650

1. Using the spreadsheet below, develop three 2016 trial balances for the company based on the following additional information: (25 points.)

a. The supplies available at the end of 2016 had a cost of $7,000.

b. The cost of expired (used) insurance for 2016 is $10,000.

c. Annual depreciation on equipment is $5,000.

d. The December utilities expense of $700 is not included in the unadjusted trial balance.

e. The companys employees have earned $2,000 of accrued wages by the end of December.

f. Rent expense of $3,000 has been incurred, but not yet paid or recorded by year end.

g. Property taxes of $500 have been assessed for 2016, but have not yet been paid or recorded.

h. Accrued interest expense of $150 for December has not been recorded or paid.

Account	Unadjusted Trial Balance		Adjusted Trial Balance		Post-Closing Trial Balance
	Debit	Credit	Debit	Credit	Debit	Credit
Cash
Supplies
Prepaid Insurance
Equipment
Accum. Dep. Equip.
Accounts payable
Interest payable
Rent payable
Wages payable
Property taxes pay.
Utilities payable
Long-term notes pay.
Owners Capital
Withdrawals
Fees earned
Dep. expense - Equip
Wages expense
Interest expense
Insurance expense
Rent expense
Supplies expense
Property taxes exp.
Repairs exp.
Utilities expense
Totals

2. Prepare an income statement (10 points) and classified balance sheet (15 points) in good form for the year ended December 31^st, 2016.