The general ledger of the Karlin Company, a consulting company, at January 1, 2024, contained the following account balances:

Account Title	Debits	Credits
Cash	$ 30,000
Accounts receivable	15,000
Equipment	20,000
Accumulated depreciation		$ 6,000
Salaries payable		9,000
Common stock		40,500
Retained earnings		9,500
Total	$ 65,000	$ 65,000

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

1. Provided services, $100,000, of which $30,000 was on account and the balance was received in cash.
2. Collected on accounts receivable, $27,300.
3. Issued shares of common stock in exchange for $10,000 in cash.
4. Paid salaries, $50,000 (of which $9,000 was for salaries payable at the end of the prior year).
5. Paid miscellaneous expense for various items, $24,000.
6. Purchased equipment for $15,000 in cash.
7. Paid $2,500 in cash dividends to shareholders.

Additional information:

1. Accrued salaries at year-end amounted to $1,000.
2. Depreciation for the year on the equipment is $2,000.

Required:

1 to 3. Prepare a general journal entry for each of the summary transactions listed. Record beginning balances in the T-accounts (on the T-accounts tab). Post the journal entries to the T-accounts.

4. Using the T-account balances, prepare an unadjusted trial balance.

5. Prepare adjusting journal entries using the additional information provided. Post to the T-accounts (on the T-accounts tab).

6. Using the adjusted T-account balances, prepare an adjusted trial balance.

7-a. Prepare an income statement for 2024.

7-b. Prepare a balance sheet as of December 31, 2024.

8. Prepare closing entries, and then post to the T-accounts (on the T-accounts tab).

9. Prepare a post-closing trial balance.