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Light-It-Up Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Light-It-Up Company prepared the following end-of-period spreadsheet at August 31, 20Y5, the end of the fiscal year: Light-It-Up Company End-of-Period Spreadsheet For the Year Ended August 31, 20Y5 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 10,200 10,200 Accounts Receivable 38,200 9,200 47,400 Prepaid Insurance 4,000 3,250 750 Supplies 2,760 2,180 580 Land 98,000 98,000 Building 406,000 406,000 Accumulated Depreciation-Building 205,300 12,000 217,300 Equipment 104,000 104,000 Accumulated Depreciation-Equipment 85,100 4,600 89,700 Accounts Payable 15,800 15,800 Salaries and Wages Payable 5,000 5,000 Unearned Rent 2,500 1,700 800 Common Stock 85,000 85,000 Retained Earnings 124,530 124,530 Dividends 10,000 10,000 Fees Earned 363,600 9,200 372,800 Rent Revenue 1,700 1,700 Salaries and Wages Expense 159,000 5,000 164,000 Advertising Expense 21,200 21,200 Utilities Expense 15,600 15,600 Depreciation Expense-Building 12,000 12,000 Repairs Expense 8,850 8,850 Depreciation Expense-Equipment 4,600 4,600 Insurance Expense 3,250 3,250 Supplies Expense 2,180 2,180 Miscellaneous Expense 4,020 4,020 881,830 881,830 37,930 37,930 912,630 912,630 Required: 1. Prepare an income statement for the year ended August 31, 20Y5. 2. Prepare a statement of stockholders equity for the year ended August 31, 20Y5. During the year, common stock of $30,000 was issued. 3. Prepare a balance sheet as of August 31, 20Y5. 4. Based upon the end-of-period spreadsheet, journalize the closing entries. 5. Prepare a post-closing trial balance

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