The December 31, 2019, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2019) follows. NoAccount TitleDebitCredit 101Cash$51,534 106Accounts receivable 5,568 126Computer supplies 620 128Prepaid insurance 1,575 131Prepaid rent 795 163Office equipment 8,200 164Accumulated depreciation—Office equipment $410 167Computer equipment 21,600 168Accumulated depreciation—Computer equipment 1,350 201Accounts payable 1,600 210Wages payable 400 236Unearned computer services revenue 1,800 301S. Rey, Capital 69,000 302S. Rey, Withdrawals 7,000 403Computer services revenue 39,214 612Depreciation expense—Office equipment 410 613Depreciation expense—Computer equipment 1,350 623Wages expense 3,575 637Insurance expense 525 640Rent expense 2,385 652Computer supplies expense 3,625 655Advertising expense 2,738 676Mileage expense 809 677Miscellaneous expenses 240 684Repairs expense—Computer 1,225 901Income summary 0 Totals$113,774 $113,774 Required: 1. Record the closing entries as of December 31, 2019. 2. Prepare a post-closing trial balance as of December 31, 2019.

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Presented below is information for annie company for the month of march 2018. cost of goods sold $245,000 rent expense $ 36,000 freight-out 7,000 sales discounts 8,000 insurance expense 5,000 sales returns and allowances 11,000 salaries and wages expense 63,000 sales revenue 410,000 instructions prepare the income statement.

The gilbert instrument corporation is considering replacing the wood steamer it currently uses to shape guitar sides. the steamer has 6 years of remaining life. if kept,the steamer will have depreciaiton expenses of $650 for five years and $325 for the sixthyear. its current book value is $3,575, and it can be sold on an internet auction site for$4,150 at this time. if the old steamer is not replaced, it can be sold for $800 at the endof its useful life. gilbert is considering purchasing the side steamer 3000, a higher-end steamer, whichcosts $12,000 and has an estimated useful life of 6 years with an estimated salvage value of$1,500. this steamer falls into the macrs 5-year class, so the applicable depreciationrates are 20.00%, 32.00%, 19.20%, 11.52%, 11.52%, and 5.76%. the new steamer is fasterand allows for an output expansion, so sales would rise by $2,000 per year; the newmachine's much greater efficiency would reduce operating expenses by $1,900 per year.to support the greater sales, the new machine would require that inventories increase by$2,900, but accounts payable would simultaneously increase by $700. gilbert's marginalfederal-plus-state tax rate is 40%, and its wacc is 15%.a. should it replace the old steamer? b. npv of replace = $2,083.51