Nalezny Advertising Agency was founded by Casey Hayward in January 2005. Presented below are both the adjusted and unadjusted trial balances as of December 31, 2014.
(a) Journalize the annual adjusting entries that were made.
(b) Prepare an income statement for the year ending December 31, 2014, and a balance sheet at December 31.
(c) Describe the remaining steps in the accounting cycle to be completed by Nalezny for 2014.