Use worksheet and prepare the adjusting entries to correct the figures as per below accounts. Prepare also the Income Statement, Statement of Changes in Stockholders' Equity and Balance Sheet. Below is the trial balance of ABC Company, prior to the closing of its accounts for the fiscal year-ended June 30, 2021: DEBIT CREDIT Cash 233,000 Accounts receivable 936,000 Allowance for doubtful accounts 31,900 Notes receivable 155,000 Merchandise inventory, June 30, 2020 Furniture and Equipment Acc. Depreciation-Furniture & Eqp't 568,900 618,000 187,500 Goodwill 300,000 Accounts Payable Notes Payable Capital Stock Retained earnings 536,000 100,000 1,000,000 560,500 3,728,200 Sales Sales Returns and allowances 47,600 2,159,300 Purchases Purchase Returns and allowances 36,500 Advertising 96,100 288,500 152,000 Sales salaries Commission expense Miscellaneous selling expenses 29,900 Rent expense Office salaries 130,000 197,200 15,000 10,800 47,800 Light and water Insurance expense Taxes and licenses Miscellaneous general expenses 163,400 Interest expense 41,200 9,100 6,189,700 Interest income 6,189,700 Additional information: Your examination of the company's accounts had indicated the need for adjustments based on the following information: 1. The Cash account include a customers' check for P25,000 deposited on June 15, 2021, but returned by the bank on June 29,2021 for lack of countersignature. No entry was made by the company for the return of the check or for its redeposit on July 5, 2021. 2. The Allowance for Doubtful Accounts should be adjusted to 5% of the customers' outstanding balances on June 30, 2021. 3. A physical inventory taken of the merchandise stock at the end of the fiscal year amounted to P601,200. 4. A purchase of merchandise FOB shipping point, for which goods costing P50,000 were still in transit on 2021 was neither taken as a liability nor included in the inventory on that date. 5. Goods received on consignment, still unsold, were included in the inventory at the agreed selling price of P28,000. 6. The merchandise inventory at June 30, 2020 was correctly stated. 7. On April 1, 2021, equipment which was acquired on July 1, 2018 with a book value of P32,000 on June 30, 2020 was sold for P35,000 in cash. The sales proceeds were credited to the Furniture and Equipment account. 8. Depreciation for the fiscal year 2020 and 2021 has not been recorded. Depreciation rate being used is 10% annually. 9. An insurance policy was taken on the inventory and equipment on January 1, 2021 with the annual premium of P10,800 paid on that date. 10. Rent expense account consisted of rent paid for stock and office space for thirteen (13) months ending July 31, une 30, 2021. 11. The 120-day Note Payable of P100,000 bearing interest of 12% was discounted at the bank on June 1, 2021. 12. The Goodwill account was set-up by a credit to Retained Earnings under a resolution of the Board of Directors.