The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $17,006, and on account, $62,000. 2. March 13 collect on accounts receivable, $50,000. 3. May 6 Issue shares of common stock in exchange for $11,000 cash. 4. June 30 Pay salaries for the current year, $32,400. 5. September 15 Pay utilities of $5,800 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $8,800. 7. December 30 Pay $2,400 cash dividends to stockholders. 1. Record each of the transactions Ilsted above in the 'General Journal' tab (these are shown as items 1 - 7). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 8-10). 3. Revlew the adjusted 'Trial Balance' as of December 31,2021. 4. Prepare an income statement for the period ended December 31, 2021, in the 'Income Statement' tab. 5. Prepare a classifled balance sheet as of December 31, 2021 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 11-13). The following information is avallable for the adjusting entries: Depreciation for the year on the machinery is $6,800. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $8,800 paid in advance by customers, $6.400 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,600. The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and llability account is reported se balance sheet. The unadjusted, adjusted, or post-ciosing balances will appear for each account, based on your selection