Transactions and events during 2023 are as follows: a Borrowed $10,000 cash on at 6 percent note payable, dated March I, 2023. b. Purchased land for future building site; paid cash, $9,000. c Earned revenues for 2023 of $160.000, including $50.000 on credit. d Sold $,000 additional shares for $1 cash per share: c. Recognized other expenses for 2023,$85,000, including $20,000 on credit. f Collected accounts receivable, $24,000. \& Purchased additional assets, $10,000 cash (debit other assets account). h. Paid accounts payable. $13,000. 1. Purchased service supplies on account, $18,000 (debit to Account No. 03). f. Siened a $25,000 service contract to start February 1, 2024 k. Deciared and paid cash dividend, $15,000. Data for adpusting entries are as follows: 1 Service supplies inventory on hand at Decenber 31, 2023, $12.000 (debit other expenses account). 17. Depreciation on the equipment estimated at $6.000 pet jear. 11. Accrued interest on notes payable (to be computed) a. Wages earned since the December 24 pay date but not jet paid, $15,000. p. Income tax expense for 2023 payable in 2024,58,000. Ronuirnt I Set up Taccouns for the accounts on the trial balance and enter their beginning tolances. 2. Record transactions (a) through (k) and post them to the Toccounts. 1. Record and poit the adjustier entries ( 0 through (). 4. Prepare a statenieat of earnings (includiag earnings per stiale), a stateinent of changes in equity for 2023, and a statement of financial position at December 31. 2023. 5. Record and post the closing entries. COMP4-1 Recording Transactions (Including Adjusting and Closing Entries), Preparing a Complete Set of Financial Statements, and Brothers Anthony and Christopher Gaber began operations of their tool and die shop (A \& C Tools Inc.) on January I, 2022. The company's fiscal year ends on December 31. The closing trial balance on December 31. 2022, follows: 4. Prepare a statement of earnings (including earnings per share), a statement of changes in equity position at December 31, 2023. 5. Record and post the closing entries. 6. Prepare a post-closing trial balance. 7. Compute the following ratios for 2023 and explain what they mean: a. Current ratio b. Total asset turnover ratio c. Net profit margin ratio d. Return on equity