trial balance is presented below for November 30, 2018.

COOKIE CREATIONS Trial Balance November 30, 2018
		Debit		Credit
Cash		$245
Supplies		125
Prepaid Insurance		1,320
Equipment		1,200
Unearned Service Revenue				$30
Notes Payable				2,000
Common Stock				800
Service Revenue				125
Advertising Expense		65
		$2,955		$2,955

It is the end of November and Natalie has been in touch with her grandmother. Her grandmother asked Natalie how well things went in her first month of business. Natalie, too, would like to know if the company has been profitable or not during November. Natalie realizes that in order to determine Cookie Creations income, she must first make adjustments. Natalie puts together the following additional information.

1.		A count reveals that $35 of baking supplies were used during November.
2.		Natalie estimates that all of her baking equipment will have a useful life of 5 years or 60 months. (Assume Natalie decides to record a full months worth of depreciation, regardless of when the equipment was obtained by the business.)
3.		Natalies grandmother has decided to charge interest of 6% on the note payable extended on November 16. The loan plus interest is to be repaid in 24 months. (Assume that half a month of interest accrued during November.)
4.		On November 30, a friend of Natalies asks her to teach a class at the neighborhood school. Natalie agrees and teaches a group of 35 first-grade students how to make Santa Claus cookies. The next day, Natalie prepares an invoice for $300 and leaves it with the school principal. The principal says that he will pass the invoice along to the head office, and it will be paid sometime in December.
5.		Natalie receives a utilities bill for $45. The bill is for utilities consumed by Natalies business during November and is due December 15.

Part 1: Prepare Adjusting Journal Entries

Part Two: Post the Adjusting Journal Entries

Part Three: Prepare the Adjusted Trial Balance

Part 4: Using the adjusted trial balance, calculate Cookie Creations net income or net loss for the month of November 2018.