Mowgli Corporation, accounting assignment help

Project Data The adjusted trial balance for Mowgli Corporation contained the following accounts at December 31, 2015 the end of the company’s fiscal year:   Dr.   Cr.   Cash   $26,000     Accounts Receivable   $80,000     Inventory (beginning)   $25,000     Land   $9,000     Office equipment   $22,000     Accumulated Depreciation-equip.    $20,000    Building   $233,000     Accumulated Depreciation-Bldg.    $94,000    Patent   $16,000     Accounts Payable    $50,000    Interest Payable    $14,000    Unearned Revenue    $30,000    Notes Payable    $100,000    Capital    $60,000    Drawings   $9,000     Sales    $170,200    Sales Returns and Allowances   $2,500     Sales Discounts   $1,100     Purchases   $66,000     Purchases Returns and Allowances    $1,000    Purchase Discounts    $500    Freight-in   $300     Insurance Expense   $6,000     Interest Expense   $8,000     Repair Expense   $5,000     Salaries Expense   $17,600     Advertising Expense   $1,200     Depreciation Expense   $11,000     Utilities Expense   $1,000      $539,700    $539,700   Other Information: Inventory on hand at December 31, 2015 is $40,000 (Hint: this is ending inventory).Administrative expenses include the following: Insurance expense, Repair Expense, Utilities expense, and Depreciation expense. Selling expenses include the following: Advertising expense and Salaries expense.$20,000 of the Notes Payable is payable next year (Hint: classified as current).  Instructions Prepare a classified balance sheet (20pts), multiple step income statement (20pts), statement of owners’ equity (5pts), and closing entry (5pts).