Tony and Suzie graduate from college in May 2024 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, theylil hold their first adventure races. These races will involve four-person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering. and trall running. In the long run, they plan to sell outdoor gear and develop a ropes course for outdoor enthusiasts. On July 1, 2024. Tony and Suzie organize their new company as a corporation, Great Adventures incorporated The articles of incorporation state that the corporation will sell 32,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzle will act as co-presidents of the company. The following business activities occur during July for Great Adventures. The following information relates to year-end adjusting entries as of December 31,2024. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $8,600. b. Six months' of the one-year insurance policy purchased on July i has expired. c. Four months of the one-year rental agreement purchosed on September 1 thos expired. The following information relates to year-end adjusting entries as of December 31, 2024. a. Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totais $8,600. b. Six months' of the one-year insurance policy purchased on July 1 has expired. c. Four months of the one-year rental agreement purchased on September 1 has expired. d. Of the $1,400 of office supplies purchased on July 4,$370 temains. e. Interest expense on the $45,000 loan obtained from the city council on August ishould be recorded. 1. Of the $2,900 of racing supplies purchased on December 12,$280 remains, g. Suzle calculates that the company owes 513,100 in income taxes. 8. Prepare a post-closing trial balance as of December 31, 2024