The Moto Hotel opened for business on May 1, 2017. Here is its trial balance before adjustment on May 31. MOTO HOTEL Trial Balance May 31, 2017 Debit Credit Cash $2,593 Supplies 2,600 Prepaid Insurance 1,800 Land 15,093 Buildings 72.400 Equipment 16,800 Accounts Payable $4,793 Unearned Rent Revenue 3,300 Mortgage Payable 38,400 Common Stock 60,093 Rent Revenue 9,000 Salaries and Wages Expense 3,000 800 Utilities Expense Advertising Expense 500 $115,586 $115,586 Other data: 1. Insurance expires at the rate of $360 per month 2. A count of supplies shows $1,150 of unused supplies on May 31. 3. (a) Annual depreciation is $3,600 on the building, (bl Annual depreciation is $3.000 on equipment. 1. Insurance expires at the rate of $360 per month. 2. A count of supplies shows $1,150 of unused supplies on May 31. 3. (a) Annual depreciation is $3,600 on the building, (b) Annual depreciation is $3,000 on equipment. 4. The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,630 has been earned. 6. Salaries of $750 are accrued and unpaid at May 31. Part 2 Prepare a ledger using T-accounts. Enter the trial balance amounts and post the adjusting entries. (Post entries in the order of journal entries presented in the previous question.) Cash Supplies Prepaid Insurance Land Building Accumulated Depreciation Building Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Rent Revenue Salaries and Wages Payable Interest Payable Mortgage Payable Common Stock Rent Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Interest Expense Insurance Expense Supplies Expense Depreciation Expense Part 3 Prepare an adjusted trial balance on May 31. MOTO HOTEL Adjusted Trial Balance Debit Credit Part 4 Prepare an income statement for the month of May. MOTO HOTEL Income Statement Part 5 Prepare a retained earnings statement for the month of May. MOTO HOTEL Retained Earnings Statement For the Month Ended May 31, 2017 - Retained Earnings, May 1 Add : Net Income /(Loss) Retained Earnings, May 31 : Part 6 Prepare a classified balance sheet at May 31 (List current assets in order of liquidity List Property, Plant and Equipment in order of Land, Buildings and Equipment.) MOTO HOTEL Balance Sheet Assets Liabilities and Stockholders' Equity