Programs Plus is a retail firm that sells computer programs for home and business use. Programs Plus operates in a state with no sales tax. On December 31, 20X1, its general ledger contained the accounts and balances shown below. Cash ACCOUNTS Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Prepaid Insurance BALANCES $ 22,280 Debit 33,600 Debit 130 Credit 69,375 Debit 7,440 Debit 3,780 Debit Equipment 41,000 Debit Accumulated Depreciation-Equipment 13,600 Credit Notes Payable 7,964 Credit 7,900 Credit Social Security Tax Payable Accounts Payable Medicare Tax Payable Yasser Tousson, Capital Yasser Tousson, Drawing Sales Sales Returns and Allowances Purchases Freight In Purchases Returns and Allowances. Purchases Discounts Rent Expense Telephone Expense Salaries Expense Payroll Taxes Expense Interest Expense 910 Credit 200 Credit 100,620 Credit 50,000 Debit 528,980 Credit 12,400 Debit 321,530 Debit 4,300 Debit 8,545 Credit 28,090 Credit 21,500 Debit 2,514 Debit 99,000 Debit 8,000 Debit 220 Debit The data needed for the adjustments on December 31 are as follows: a.-b. Ending merchandise inventory, $68,550. c. Uncollectible accounts, 0.5 percent of net credit sales of $252,000. d. Supplies on hand December 31, $1,370. e. Expired insurance, $1,890. f. Depreciation Expense-Equipment, $8,400. g. Accrued interest expense on notes payable, $1,025. h. Accrued salaries, $3,500. i. Social Security Tax Payable (6.2 percent) and Medicare Tax Payable (1.45 percent) of accrued salaries. The following accounts had zero balances: ⚫ Salaries Payable • Interest Payable Income Summary . Supplies Expense Insurance Expense . Depreciation Expense-Equipment . Uncollectible Accounts Expense Required: 1. Prepare a worksheet for the year ended December 31, 20X1. 2. Prepare a classified income statement. The firm does not divide its operating expenses into selling and administrative expenses. 3. Prepare a statement of owner's equity. No additional investments were made during the period. 4. Prepare a classified balance sheet. All notes payable are due within one year. 5. Journalize the adjusting entries. 6. Journalize the closing entries. 7. Journalize the reversing entries. Analyze: By what percentage did the owner's capital account change in the period from January 1, 20X1, to December 31, 20X1? Complete this question entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Analyze Prepare a worksheet for the year ended December 31, 20X1. Note: Round your answers to 2 decimal places. PROGRAMS PLUS Worksheet Year Ended December 31, 20X1 Adjusted Trial Balance Debit Credit. Debit. Trial Balance Adjustments Account Name Debit Credit Debit Credit Cash $ 22,820.00 Income Statement Balance Sheet Credit Debit Cred