The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances:

Accounts	Debits				Credits
Cash	$	4,450
Accounts Receivable		9,450
Supplies		3,450
Equipment		35,000
Accumulated Depreciation					$	7,800
Accounts Payable						5,800
Utilities Payable						6,800
Deferred Revenue						0
Common Stock						22,500
Retained Earnings						9,450
Totals	$	52,350			$	52,350

The following is a summary of the transactions for the year:

1.		January		24		Provide plumbing services for cash, $19,500, and on account, $64,500.
2.		March		13		Collect on accounts receivable, $52,500.
3.		May		6		Issue shares of common stock in exchange for $10,000 cash.
4.		June		30		Pay salaries for the current year, $32,900.
5.		September		15		Pay utilities of $6,800 from 2020 (prior year).
6.		November		24		Receive cash in advance from customers, $9,800.
7.		December		30		Pay $2,900 cash dividends to stockholders.

The following information is available for the adjusting entries.

Depreciation for the year on the machinery is $7,800. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $9,800 paid in advance by customers, $6,900 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,100.

1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 7). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.

2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 8-10).

3. Review the adjusted 'Trial Balance' as of December 31, 2021.

4. Prepare an income statement for the period ended December 31, 2021, in the 'Income Statement' tab.

5. Prepare a classified balance sheet as of December 31, 2021 in the 'Balance Sheet' tab.

6. Record the closing entries in the 'General Journal' tab (these are shown as items 11-13).