Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balances of the end of the annual accounting period on December TUNSTALL, INC Unadjusted Trial Balance for the Year Ended December 31 De Credit Cash 42.000 Accounts receivable 11.600 900 100 Supplies Prepaid insurance Service trucks Accumulated depreciation 19.000 9.200 Other assets 2100 Accounts payable 3.000 Wages payable 16.200 Income taxes payable Note payable (3 years: 10% interest due cach December 31) 17.000 Common stock (5.000 shares outstanding) 400 Additional paid in capital 19.000 Retained carnings 6,000 Service revenue 60360 ) Wages expense Remaining expenses (not detailed, excludes income tax) 17.160 Income tax expense Totals 115 950 115.960 Data not yet recorded at December 31 included 4. The supplies count on December 31 reflected $300 in remaining supplies on hand to be used in the next year. & Insurance expired during the current year. $800. c Depreciation expense for the current year. $3.700. Wages earned by employees not yet paid on December 31. 8640. e Income tax expense, $5.540. Required 1. Record the adjusting entries. 2. Prepare an income statement and a classified balance sheet that include the effects of the preceding five transactions 3. Record the closing entry