The unadjusted trial balance of Pina Colada Enterprises for the year ending December 31, 2021, follows:

PINA COLADA ENTERPRISES Trial Balance December 31, 2021
		Debit		Credit
Cash		$15,000
Accounts receivable		19,200
Merchandise inventory		37,050
Prepaid insurance		3,000
Supplies		2,950
Equipment		150,000
Accumulated depreciationequipment				$35,000
Furniture		45,000
Accumulated depreciationfurniture				18,000
Accounts payable				33,200
Unearned revenue				4,000
Mortgage payable				125,000
S. Kim, capital				46,200
S. Kim, drawings		48,000
Sales				265,000
Sales returns and allowances		2,500
Sales discounts		3,275
Cost of goods sold		153,000
Interest expense		6,875
Salaries expense		35,450
Utilities expense		5,100
		$526,400		$526,400

Additional information:

1.		There is $760 of supplies on hand on December 31, 2021.
2.		The one-year insurance policy was purchased on March 1, 2021.
3.		Depreciation expense for the year is $10,800 for the equipment and $4,500 for the furniture.
4.		Accrued interest expense at December 31, 2021, is $800.
5.		Unearned revenue of $900 is still unearned at December 31, 2021. On the sales that were earned, cost of goods sold was $2,050.
6.		A physical count of merchandise inventory indicates $32,350 on hand on December 31, 2021.
7.		Global uses the perpetual inventory system and the earnings approach.

a. Prepare the adjusted journal entries

b. Prepare multiple step income statement

c. Prepare a single step income statement

d. Prepare the closing entries