Trial Balance for JKL Ltd. as of November 30, 2023:

Account Title	Debit ($)	Credit ($)
Cash	55,000
Accounts Receivable	18,000
Prepaid Rent	7,000
Equipment	140,000
Accumulated Depreciation		35,000
Accounts Payable		22,000
Notes Payable		70,000
Common Stock		55,000
Retained Earnings		40,000
Service Revenue		95,000
Salaries Expense	26,000
Rent Expense	9,000
Utilities Expense	4,000
Insurance Expense	11,000
Dividends	12,000

Requirements:

1. Prepare the adjusted trial balance for JKL Ltd.
2. Prepare the income statement for the year ended November 30, 2023.
3. Prepare the statement of retained earnings for the year ended November 30, 2023.
4. Prepare the balance sheet as of November 30, 2023.
5. Identify any errors and propose corrections.