The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following account balances:

Account Title	Debits		Credits
Cash	29,300
Accounts receivable	17,000
Equipment	29,000
Accumulated depreciation			8,700
Salaries payable			9,500
Common stock			48,000
Retained earnings			9,100
Total	75,300		75,300

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

1. Service revenue, $130,000, of which $39,000 was on account and the balance was received in cash.
2. Collected on accounts receivable, $26,200.
3. Issued shares of common stock in exchange for $15,000 in cash.
4. Paid salaries, $47,500 (of which $9,500 was for salaries payable at the end of the prior year).
5. Paid miscellaneous expense for various items, $25,600.
6. Purchased equipment for $17,500 in cash.
7. Paid $3,150 in cash dividends to shareholders.

1. Accrued salaries at year-end amounted to $950.
2. Depreciation for the year on the equipment is $2,900

2., 5, & 8. Prepare the summary, adjusting and closing entries for each of the transactions listed.

4. Prepare an unadjusted trial balance. 6. Prepare an adjusted trial balance. 7-a. Prepare an income statement for 2021. 7-b. Prepare a balance sheet as of December 31, 2021. 9. Prepare a post-closing trial balance.