The following unadjusted trial balance is prepared at fiscal year-end for Foster Products Company FOSTER PODUCTS COMPANY Unadjusted Trial Balance 31-Oct-19 Debit Credit $7,400 24,000 9,700 6,600 81,800 32,000 18,000 43,000 2,000 227,100 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation--Store equipment Accounts payable D. Foster, Capital D. Foster, Withdrawals Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense--Store equipment Salaries expense Insurance expense rent expense Store supplies expense Advertising expense Totals 1,000 5,000 75,800 63,000 26,000 17,800 $320,100 $320,100 Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Foster Products Company uses perpetual inventory system. Required: 1. Prepare adjusting journal entries to reflect each of the following: a. Store supplies still available at fiscal year-end amount to $3,700. b. Expired insurance, an administrative expense, for the fiscal year is $2,800. c. Depreciation expense on store equipment, a selling expense, is $3,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $21,300 of inventory is still available at fiscal year-end. 2. Prepare the closing entries. 3. Prepare a multiple-step income statement for the fiscal year 2019. 4. Prepare a balance sheet for fiscal year 2019. 5. Prepare a statement of owner's equity for fiscal year 2019. You may attach a file with your response