The trial balance of Blue Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit BLUE FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $33,680 Accounts Receivable 37,330 Inventory 48,630 Supplies 9,130 Equipment 140,260 Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and Wages Expense 138,160 Advertising Expense 27,750 Utilities Expenses 15,840 Maintenance and Repairs Expense 12,100 Delivery Expense 16,700 Rent Expense 25,350 Totals $1,004,530 $26,700 54,630 52,130 93,630 11,630 765,810 $1,004,530 Adjustment data: 1. Supplies on hand totaled $5,130. 2. Depreciation is $17,025 on the equipment. 3. Interest of $10,400 is accrued on notes payable at November 30. Other data: 1. Salaries expense is 70% selling and 30% administrative. 2. Rent expense and utilities expenses are 80% selling and 20% administrative. 3. $30,000 of notes payable are due for payment next year. 4. Maintenance and repairs expense is 100% administrative. Journalize the adjusting entries. (Credit account titles are automatically indented when 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. Record journal entries in the order presented in the problem.) No. Date Account Titles and Explanation Debit Credit 1. Nov. 30 2. Nov. 30 3. Nov. 30 Prepare an adjusted trial balance. BLUE FASHION CENTER Adjusted Trial Balance Debit Credit $1 . Total Prepare a multiple-step income statement for the year. (ignore income taxes) (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) BLUE FASHION CENTER Income Statement Selling expenses $ Administrative expenses $ Prepare retained earnings statement for the year. BLUE FASHION CENTER Retained Earnings Statement Prepare a classified balance sheet as of November 30, 2020. (List current assets in order of liquidity.) BLUE FASHION CENTER Balance Sheet Assets LANDI $ Liabilities and Stockholders' Equity Journalize the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) No. Date Account Titles and Explanation Debit Credit Nov. 30 (To close accounts with credit balances.) 2. Nov. 30 (To close accounts with debit balances.) 3. Nov. 30 (To close net income / (loss).) Prepare a post-closing trial balance. BLUE FASHION CENTER Post-Closing Trial Balance Debit Credit $ $1