The Larkspur, Inc. opened for business on May 1, 2022. Its trial balance before adjustment on May 31 is as follows.

Larkspur, Inc. Trial Balance May 31, 2022
Account Number				Debit		Credit
101		Cash		$ 3,290
126		Supplies		1,958
130		Prepaid Insurance		2,256
140		Land		11,280
141		Buildings		56,400
149		Equipment		13,680
200		Notes Payable				$ 37,600
201		Accounts Payable				10,512
208		Unearned Rent Revenue				3,102
311		Common Stock				32,900
429		Rent Revenue				9,262
610		Advertising Expense		564
726		Salaries and Wages Expense		3,102
732		Utilities Expense		846
				$93,376		$93,376

In addition to those accounts listed on the trial balance, the chart of accounts for Larkspur, Inc. also contains the following accounts and account numbers: No. 142 Accumulated DepreciationBuildings, No. 150 Accumulated DepreciationEquipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense. Other data:

1.		Prepaid insurance is a 1-year policy starting May 1, 2022.
2.		A count of supplies shows $705 of unused supplies on May 31.
3.		Annual depreciation is $2,820 on the buildings and $1,368 on equipment.
4.		The note payable interest rate is 12%. (The note was taken out on May 1 and will be repaid along with interest in 2 years.)
5.		Two-thirds of the unearned rent revenue has been earned.
6.		Salaries and wages of $885 are unpaid and unrecorded at May 31.

Journalize the adjusting entries on May 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question.)

Prepare an adjusted trial balance on May 31. Prepare an income statement for the month of May 31. Prepare a retained earnings statement for the month of May 31. Prepare a balance sheet at May 31. (List Assets in order of liquidity. List Property, plant and equipment in order of land, buildings and equipment.)