The Trial Balance section of the worksheet for Contemporary Fashions for the period ended December 31, 2019, appears below. Adjustments data are also given.

ADJUSTMENTS

1. Supplies used, $3,600
2. Expired insurance, $2,400
3. Depreciation expense for machinery, $1,200

Required:

1. Complete the worksheet.
2. Prepare an income statement.
3. Prepare a statement of owner's equity.
4. Prepare a balance sheet.
5. Journalize the adjusting entries in the general journal.
6. Journalize the closing entries in the general journal.
7. Prepare a postclosing trial balance.

Analyze:

If the adjusting entry for expired insurance had been recorded in error as a credit to Insurance Expense and a debit to Prepaid Insurance for $2,400, what reported net income would have resulted?

With this i need req 1 req 2 req 3 req 4 req 5and 6 and 7 and it needs analyzed.