The trial balance of Sunland Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. SUNLAND FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Credit Cash $33,240 Accounts Receivable 37,060 Inventory 48.360 Supplies 8,860 Equipment 139,720 Accumulated Depreciation Equipment $26,360 Notes Payable 54360 Accounts Payable 51.860 Common Stock 93.360 Retained Earnings 11.360 Sales Revenue 765.100 Sales Returns and Allowances 4.200 $26,360 Accumulated Depreciation Equipment 54,360 Notes Payable 51,860 Accounts Payable 93,360 Common Stock 11,360 Retained Earnings Sales Revenue 765,100 Sales Returns and Allowances 4,200 Cost of Goods Sold 495.400 Salaries and Wages Expense 138,520 Advertising Expense 27.580 Utilities Expenses 15,480 Maintenance and Repairs Expense 12,100 16,700 Delivery Expense Rent Expense 25,180 Totals $1,002,400 $1,002 400 Adjustment data: 1. 2 Supplies on hand totaled $4,860. Depreciation is $16,770 on the equipment Interest of $11,510 is accrued on notes payable at November 30, 3. Other data: 1 2. Salaries expense is 70% selling and 30% administrative. Rent expense and utilities expenses are 80% selling and 20% administrative, $30,000 of notes payable are due for payment next year. Maintenance and repairs expense is 100% administrative. 3. 4 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 for the amounts. Record journal entries in the order presented in the problem.) Debit Credit No. Date Account Titles and Explanation Nov. 30 1 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 for the amounts. Record journal entries in the order presented in the problem.) Debit Credit No. Date Account Titles and Explanation 1 Nov. 30 2 Nov. 30 3 Nov. 30 List of Accounts Prepare an adjusted trial balance. SUNLAND FASHION CENTER Adjusted Trial Balance Debit Credit $ Prepare a multiple-step Income statement for the year. (Ignore Income taxes) (Enter loss using either a negative sign preceding the number 6.8. -15 or parentheses es. (45)) SUNLAND FASHION CENTER Income Statement Selling expenses $ Selling expenses Administrative expenses Prepare retained earnings statement for the year. SUNLAND FASHION CENTER Retained Earnings Statement $ $ List of Accounts Prepare a classified balance sheet as of November 30, 2020. (List current assets in order of liquidity.) SUNLAND FASHION CENTER Balance Sheet Assets $ . 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 1 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. SUNLAND FASHION CENTER Post-Closing Trial Balance Debit Credit