Vallin Inc. is a retail business headquartered in the U.S. The accounting information system is based upon the principles and rules of U.S. Generally Accepted Accounting Principles (GAAP). Business activity is recorded on an accrual basis. The company employs the perpetual inventory system in accounting for its merchandise inventory. The company operates using a January through December fiscal year. The balances of the accounts in the general ledger as of November 30 of the current fiscal year are as follows: INSTRUCTIONS: ROUND ALL AMOUNTS TO THE NEAREST DOLLAR, AS NECESSARY! 1. Enter the balances of each of the accounts as of November 30 in the appropriate balance column of a T account (use account names and numbers) or a four-column account. [You are creating the General Ledger.] 2. Journalize (using the General Joumal) the transactions for December. 3. Post the December journal entries to the General Ledger, computing the year-end balances after all posting is completed. 4. Prepare an Unadjusted Trial Balance as of December 31. 5. Analyze the following adjustment data assembled at the end of December. Use the adjustment data to journalize, then post, the necessary adjusting entries. a. Merchandise inventory on hand at December 31, per physical count, $248,315. b. Insurance coverage expired during the year, $12,350. c. Supplies on hand at December 31,$2.100. d. Additional depreciation to be recorded on the equipment for the year. $14,130. e. Accrued sales salaries $1,800 and accrued office salaries $890 on December 31 . 1. Accrued interest on the note payable as of December 31.$240. g. Unearned Rent at December 31 is $8,300. h. Company estimates that customers will request an additional $12,830 of refunds related to current year sales and the related merchandise costing $5,900 will be retumed. 6. Prepare an Adjusted Trial Balance as of December 31. 7. Prepare, in good form, a multiple-step Income Statement, a Statement of Stockholders' Equity. and a classified Balance Sheet at the end of the December 31 fiscal year. Retained earnings as of 11/30 equaled retained earnings as of beginning of the fiscal year (1/1). 8. Journalize and post the necessary closing entries. 9. Prepare a Post-Closing Trial Balance as of December 31. No transactions affecting common stock occurred during this fiscal year. During December, the last month of the fiscal year, the following transactions were completed