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Trisha and her family visit the local weekend farmers' market on their weekly shopping trip. Susan, a local candy producer, and friend of Trisha's family, sells her candy at a booth at the market during December to meet demand for the holidays.

Susan no longer wants to work weekends but wants to continue to maintain interest in her product among farmers' market customers. Susan knows that Trisha is a budding entrepreneur and asks if she would like to take over the retail sales at the booth in December. Susan gives Trisha the following information:

Each box of Specialty Chocolates sells at a retail price of $$23\mathrm{.}00$ each.

Trisha can buy boxed chocolate from Susan for $$13\mathrm{.}00$ each.

Trisha will be responsible for paying the booth fees for her booth. The booth fee is $$470$ per month.

$,$ Trisha can keep any of the net income from market sales.

Trisha will return all the unsold boxes to Susan at the end of December.

Susan expects that Trisha will pay Susan for inventory that Trisha acquired but did not return, on January ${10}^{th}$ the following year.

Trisha agrees to Susan's offer and decides to sell boxed Specialty Chocolates at the farmers' market during December $2023.$ Trisha asks her brother, Tom, to help in her booth and she would pay him $$350$ for the month of December. Tom agrees.

December $2023$

Trisha establishes her business as a corporation with a calendar year end and takes $$3,500$ out of her personal savings to buy common stock in the corporation.

Trisha acquires $420$ boxes from Susan's storage unit.

Trisha pays the market manager the booth fee for December $2023$ and sets up the booth.

The Young Professionals Club asks Trisha if they could buy $25$ boxes, take them away that day, and mail her a check for payment in January. Trisha agrees.

Ms$.$ James, director of the local holiday community food bank, comes to the booth representing this charitable organization. Ms$.$ James asks Trisha if she would consider donating boxed chocolates to this worthy cause. Trisha says yes and gives Ms$.$ James $12$ boxes of chocolate.

Trisha sells $365$ boxes of chocolates to market$-$goers during the month.

Trisha pays Tom for his December work.

Trisha returns all remaining unsold boxes to Susan.

Trisha pays the stockholder a dividend of $$1,000.$

Prepare journal entries for all activities. Do not include explanations. Use the month and year for the dates on journal entries. Do not differentiate between general and adjusting entries.

Post journal entries to $T-$accounts and calculate $T-$account balances for the year.

Prepare a trial balance. Since you do not differentiate between general and adjusting entries, prepare one trial balance after all entries are prepared, posted, and $T-$account balances are calculated.

Prepare a multi$-$step income statement.

Prepare a statement of retained earnings.

Prepare a balance sheet.

Prepare closing journal entries, post to T$-$accounts, and re$-$calculate ending T$-$account balances. Head this set of journal entries "Closing Entries."

Prepare a post$-$closing trial balance.

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