As a recently hired accountant for a small business, SMC, Inc. you are provided with last year's balance sheet, income statement, and post-closing trial balance to familiarize yourself with the business. The attached pdf contains Information for your course project. Here is a written version of the course project information. Computer Project FinancialAccourting - SUMMER 2022 pdi ↓ You are also given the foliowing information that summarizes the business activity for the current year,2022. 1. Issaed 10,000 additional shares of common stock for $60,000 casi on Jancery 1 st. 2. Bosrowed $50.000 on March 1.2022, from Downtown Bankas a long-term The interest rate on the loan is 4% and Interest forthe year is payable on January 1,2023. 3. Pald $12,000 eash on april to fease a building for one yean 4. Received $6,000 ot May 1 from a tenant for orie year's rent. 5. Paid 54.200 on June 1 for ane-year insurance policy. 6. Purchased 93.700 of supplies for cash on lune 15 th. 7. Purchased trwentory for $125,000 on accolnt on July 1. 8. August 1, sold inventory for $185,000 ar accounti post of the rierchandise sold was $120,000. 9. collected $145,000 cesh fom customers' accounts tecewabte on Aught 20th 10. September 1. Paid \$95,000 cash for inventories purchased earlier durins the yeat 11. September 20 th paid $34,000 for soles reps salaries, incliding $1,000 aved at the beginning of 2022. 12. Dtvidends for 59,500 were paid on actobet 20th. 13. The income taves poyable for tha year of 2021 were paid on Novernber 15 the 14. For adjustins entries, all prepaid expenses are intially recorded as sscets. and al woearned revenues are initially recorded us tiobilities (this is just infocmationall. 15. At year-end, $2,050 worth of supplies are on hand. 1a. At year-end, an tideitional $9.500 of sales salaries are owed. but have not yet been paki. 17. Piepare an adjusting entry to recognize the taxes owed for 2022. The corporate tax rate is 21$ of the income before iocome taxes?