Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31.

Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31.

Account Titles	Debit			Credit
Cash	$	50
Accounts Receivable		12
Prepaid Insurance		7
Equipment		104
Accumulated Depreciation				$	0
Accounts Payable					12
Common Stock					98
Retained Earnings					16
Sales Revenue					107
Insurance Expense		0
Salaries and Wages Expense		22
Supplies Expense		38
Totals	$	233		$	233

Other data not yet recorded at December 31:
a.	Insurance expired during the year, $6.
b.	Depreciation expense for the year, $5.
c.	Wages payable, $8.
d.	Income tax expense, $10.

Prepare the adjusting journal entries for the year ended December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Using T-accounts, determine the adjusted balances in each account and prepare an adjusted trial balance as of December 31. Using the above adjusted balances, prepare an income statement. Using the above adjusted balances, prepare a statement of retained earnings. Using the above adjusted balances, prepare a classified balance sheet for 2015. (Amounts to be deducted should be indicated by a minus sign.) Using the above adjusted balances, prepare the closing journal entry as of December 31.