Problem: The adjusted trial balance columns of the work sheet for Boss Nass Company, owned by Boss Nass, are as follows.
![842_Adjusted trial balance columns.jpg](https://secure.tutorsglobe.com/CMSImages/842_Adjusted%20trial%20balance%20columns.jpg)
Instructions:
(a) Complete the work sheet by extending the balances to the financial statement columns.
(b) Prepare an income statement, a retained earnings statement, and a classified balance sheet.
(Note: $10,000 of the notes payable become due in 2003.)
(c) Prepare the closing entries. Use J14 for the journal page.
(d) Post the closing entries. Use the three-column form of account. Income Summary is account No. 350.
(e) Prepare a post-closing trial balance.