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Please only do required number 7: Prepare a classified balance sheet

Acme provides services to both individuals and business. In order to prepare a realistic trial balance, the events described below are aggregations of many individual events/transactions during the year. a. Common stock was issued for $22,000 on January 1,2021 . b. During the year, ACME paid office rent of $13,500. c. Utilities expenses incurred and paid were $5,320. d. Bought an 18-month business protection insurance policy for $1,800 on January 1, 2021. e. Wages of $58,800 were earned by employees and paid during the year. f. During the year, ACME provided services: a. On credit $128,200 b. For Cash $18,650 g. ACME purchased $59,110 of supplies on credit. h. ACME paid dividends in the amount of $3,500. i. ACME collected accounts receivable in the amount of $109,400. j. Paid creditors $47,250 for supplies purchased during the year. k. The supplies left in the supply closet totaled $7,950. I. Services performed late in December, but not yet recorded totaled $2,375. Required: 1. Prepare journal entries. 2. Post journal entries to the appropriate T-accounts. 3. Prepare any necessary adjusting journal entries and post to the appropriate T-accounts. 4. Prepare an adjusted trial balance at December 31, 2021. Assume that all beginning balances at January 1, 2021 are zero. 5. Prepare a single step income statement. 6. Prepare a statement of retained earnings. 7. Prepare a classified balance sheet. 8. Prepare all closing entries

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