Preparing and posting adjusting journal entries; preparing an adjusted trial balance and financial statements. The trial balance of Concord Bed and Breakfast Corporation at December 31, 2012, and the data needed for the month-end adjustments follow.CONCORD BED AND BREAKFAST CORPORATIONTrial BalanceDecember 31, 2012AccountDebitCreditCash$ 12,000Accounts receivable14,400Prepaid insurance2,800Supplies1,400Building435,000Accumulated depreciation$310,500Accounts payable1,930Salary payableUnearned service revenue3,000Common stock122,000Retained earnings19,060Dividends2,940Service revenue15,700Salary expense2,800Insurance expenseDepreciation expenseAdvertising expense850Supplies expenseTotal$472,190$472,190Adjustment data at December 31 follow:Prepaid insurance still in force, $900.Supplies used during the month, $500.Depreciation for the month, $1,000.Accrued salary expense, $300.Unearned service revenue still unearned, $1,500.Requirements1. Journalize the adjusting entries.2. The unadjusted balances have been entered for you in the general ledger accounts. Post the adjusting entries to the ledger accounts.3. Prepare the adjusted trial balance.4. Prepare the income statement, statement of retained earnings, and balance sheet for the business for the month ended December 31, 2012.