SILVER LINING, INC.Unadjusted Trial BalanceDecember 31, Current YearDebitsCreditsCash$ 51,402Accounts receivable2,400Office supplies246Prepaid rentUnexpired insuranceOffice equipment1,44032464, 8ee$ 42, 3001,680Accumulated depreciation: office equipmentAccounts payableInterest payableIncome taxes payableNotes payableUnearned consulting services revenueCapital stockRetained earnings4322,10010,8004,20036,0009,600Dividends1,200Consulting services revenueOffice supplies expense72, eee726Depreciation expense: office equipmentRent expense9,9004,230Insurance expense1,212Salaries expense32,520Interest expense432Income taxes expense8, 280Totals$179,112$179,112Other Data1. Accrued but unrecorded and uncollected consulting services revenue totals $1,800 at December 31, current year.2. The company determined that $3,000 of previously unearned consulting services revenue had been earned at December 31,current year.3. Office supplies on hand at December 31 total $132.4. The company purchased all of Its equipment when It first began business. At that time, the estimated useful life of the equipmentwas six years (72 months).5. The company prepald its six-month rent agreement on October 1, current year.6. The company prepald its 12-month Insurance policy on March 1, current year.7. Accrued but unpald salarles total $2,280 at December 31, current year.8. On June 1, current year, the company borrowed $10,800 by signing a 9-month, 8 percent note payable. The entire amount, plusInterest, Is due on March 1, next year.9. The company's CPA estimates that income taxes expense for the entire year is $9,000. The unpald portion of this amount is dueearly In the next year.Required:a-1. Prepare the necessary adjusting journal entries on December 31, current year.a-2. Prepare an adjusted trial balance dated December 31, current year.b-1. From the adjusted trlal balance prepared in part a-2, prepare an Income statement for the year ended December 31, current year.b-2. From the adjusted trial balance prepared In part a-2, prepare the statement of retalned earnings for the year ended December 31,current year.b-3. From the adjusted trial balance prepared in part a-2, prepare the company's balance sheet dated December 31, current year.c. Prepare the necessary year-end closing entries.d. Prepare an after-closing trial balance.e. Compute the company's average monthly Insurance expense for January and February of current year.f. Compute the company's average monthly rent expense for January through September of current year.g. If the company purchased all of Its office equipment when it first Incorporated, for how long has it been in business as of December31, current year?

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SILVER LINING, INC. Unadjusted Trial Balance December 31, Current Year Debits Credits Cash $ 51,402 Accounts receivable Office supplies Prepaid rent 2,4ee 246 1,440 Unexpired insurance Office equipment Accumulated depreciation: office equipment Accounts payable Interest payable Income taxes payable Notes payable Unearned consulting services revenue 324 64, 8ee $ 42, 300 1,680 432 2,1ee 10,8ee 4, 200 36, eee Capital stock Retained earnings 9,6ee Dividends 1, 20e Consulting services revenue Office supplies expense Depreciation expense: office equipment Rent expense 72,eee 726 9,900 4,230 Insurance expense Salaries expense 1,212 32,520 Interest expense 432 Income taxes expense 8,280 Totals $179,112 $179,112 Other Data 1. Accrued but unrecorded and uncollected consulting services revenue totals $1,800 at December 31, current year. 2 The company determined that $3,000 of previously unearned consulting services revenue had been earned at December 31, current year. B. Office supples on hand at December 31 total $132. 1. The company purchased all of its equlpment when it first began business. At that time, the estimated useful life of the equipment was six years (72 months). 5. The company prepald its six-month rent agreement on October 1, current year. 5. The company prepaid its 12-month insurance policy on March 1, current year. 7. Accrued but unpaid salarles total $2,280 at December 31, current year. 3. On June 1, current year, the company borrowed $10,800 by signing a 9-month, 8 percent note payable. The entire amount, plus Interest, is due on March 1, next year. 9. The company's CPA estimates that Income taxes expense for the entire year Is $9,000. The unpaid portion of this amount Is due early in the next year. Requlred: -1. Prepare the necessary adjusting journal entries on December 31, current year. -2. Prepare an adjusted trial balance dated December 31, current year. -1. From the adjusted trial balance prepared in part a-2, prepare an income statement for the year ended December 31, current year 2. From the adjusted trial balance prepared in part a-2, prepare the statement of retalned earnings for the year ended December 3 current year. -3. From the adjusted trial balance prepared in part a-2, prepare the company's balance sheet dated December 31, current year. . Prepare the necessary year-end closing entries. 1. Prepare an after-closing trial balance. . Compute the company's average monthly Insurance expense for January and February of current year. Compute the company's average monthly rent expense for January through September of current year. g. If the company purchased all of its office equipment when it first Incorporated, for how long has it been in business as of Decembe 31, current year?