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 balance as of the end of the annual accounting period on December 31 46.400 10.900 17500 $ 3.700 10.350 20 Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Accounts payable Wages payable income taxes payable Note payable year restu ch December Common stock 15.900 shares outstanding Additional paid in canal Retained earnings Service revenue eng expenses not excesin income tax expense 14000 1896 4300 $ 119.750 19730 Data not vot recorded at December 31 included The supplies count on December 31 reflected Siso in romaining supplies on hand to be used in the next year. b. Insurance expired during the current year $730. . Depreciation expense for the current your $3,400 Wages earned by employees not yet paid on December 2, 5700 P4-7 Part 1 Required: 1. Record the adjusting entries. (If no entry is required n/event, select "No journal entry required in the first account fold) View transaction list Journal entry worksheet Record the cost of supplies used during the year Note Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal P4-7 Part 2 2-a. Prepare an income statement that include the effects of the preceding five transactions. (Round "Earnings per share to 2 decimal places. TUNSTALL, INC Income Statement Earnings per share 2-b. Prepare a classified balance sheet that include the effects of the preceding five transactions. (Amount to be deducted should be ind b ys minus sign.) TUNSTALL, IN Balance Sheet P4-7 Part 3 3. Record the closing entry (if no entry is required for a transaction/event, select "No Journal entry required in the first account fold.) View transaction list Journal entry worksheet Record closing entry to transfer revenues and expenses to income summary Note: Enter debits before credits. Transaction General Journal View general journal Record entry Clear entry