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Alfredo Company sells several types of pasta and sauce to grocery chains. The company's reporting year$-$end is December $31.$ The unadjusted trial balance as of December $31,2023$ appears below.

$\backslash$table$[[$Account Title,Debit,Credit$],[$Cash$,30,000,],[$Accounts Receivable,$45,000,],[$Allowance for Doubtful Accounts,,$1,000],[$Investments$,120,000,],[$Supplies$,1,500,],[$Inventory$,60,000,],[$Notes Receivable,$20,000,],[$Prepaid Insurance,$7,000,],[$Office equipment,$120,000,],[$Accumulated Depreciation,,$40,000],[$Accounts payable,,$31,000],[$Notes Payable,,$50,000],[$Common Stock,,$60,000],[$Retained Earnings,,$29,500],[$Sales Revenue,,$480,000],[$Cost of Goods Sold,$140,000,],[$Salaries expense,$118,900,],[$Rent expense,$24,000,],[$Supplies expense,$2,100,],[$Advertising Expense,$3,000,],[,,],[$Totals$,691,500,691,500]]$

Information necessary to prepare the year$-$end adjusting entries appears below.

Office equipment is depreciated at a rate of $10\%$ per year.

On April $1,2023$ the company paid an insurance company $$7,000$ for a one$-$year fire insurance policy.

$$3,200$ of supplies remained on hand at December $31,2023.$

The company received $$3,000$ from a customer in December for $1,500$ pounds of spaghetti to be delivered in January $2024.$

Management estimates that $5\%$ of receivables will become uncollectible. fair value is $$170,000$

The company's stock consists of $60,000$ shares of no par value stock. This is the maximum amount of shares authorized. The income tax rate is $21\%.$

Required:

a$.$ Using the information provided, prepare a $10-$column worksheet for Alfredo's for the year ended December $31,2023.$

b$.$ Prepare a separate worksheet showing your adjusting entries in good form.

c$.$ Prepare a multiple step income statement, statement of retained earnings and a classified balance sheet. A statement of cash flow is not required.

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