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3. Prepare an adjusted trial balance. CRIMSON TIDE MUSIC ACADEMY Adjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense Totals 0 0 4. Prepare an income statement, statement of stockholders' equity, and classified balance sheet for the year ended December 31, 2021. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Stockholders Balance Sheet Equity Prepare an income statement for the year ended December 31, 2021. CRIMSON TIDE MUSIC ACADEMY Income Statement For the Year Ended December 31, 2021 Revenues: Total Revenues Expenses: Total Expenses 5. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal 7. Prepare a post-closing trial balance. CRIMSON TIDE MUSIC ACADEMY Post-Closing Trial Balance December 31, 2021 Accounts Debit Credit Totals $ O 0 Required information (The following information applies to the questions displayed below.] Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company's fiscal year-end. Credits Debits $ 38,300 12,300 0 4,800 10,000 106,000 48,000 Accounts Cash Accounts Receivable Interest Receivable Supplies Prepaid Rent Land Notes Receivable Accounts Payable Salaries Payable Deferred Revenue Utilities Payable Common Stock Retained Earnings Service Revenue Interest Revenue Salaries Expense Rent Expense Supplies Expense Utilities Expense Totals $ 11,900 0 6,700 0 143,400 23,900 70,200 0 31,500 0 0 5,200 $256,100 $256,100 In addition, the company had the following year-end adjusting entries. Credits Debits 3,500 3,500 2,200 2,200 2,700 2,700 a. Salaries Expense Salaries Payable b. Interest Receivable Interest Revenue c. Supplies Expense Supplies d. Deferred Revenue Service Revenue e. Rent Expense Prepaid Rent f. Utilities Expense Utilities Payable 4,700 4,700 6,800 6,800 1,600 1,600 Required: 1., 2. & 6. Enter the unadjusted balances from the trial balance and post the adjusting entries to the T-accounts, and post the closing entries to the T-accounts. Cash Accounts Receivable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Supplies Interest Receivable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Prepaid Rent Land Beg. Bal. Beg. Bal. End. Bal. End. Bal. Notes Receivable Accounts Payable Beg. Bal. Beg. Bal. Salaries Payable Utilities Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Deferred Revenue Common Stock Beg. Bal. Beg. Bal. End. Bal. End. Bal. Retained Earnings Service Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. Interest Revenue Salaries Expense Beg. Bal. Beg. Bal. Rent Expense Supplies Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Utilities Expense Beg. Bal. End. Bal