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Prepare the financial statements by doing the following: 5

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Prepare the financial statements by doing the following: 5. Prepare the Adjusting Journal Entries for the end of the year on Ma6 31 2016. 6. Post all AJE transactions to the T-accounts. 7. Prepare a trial balance for the year ending on May 31* 2016. 8. Prepare the Financial Statements in good form for the year ending on May 31" 2016 including footnotes for a Summary of Significant Accounting Policies and for contingency disclosures only if needed. 9. After preparing the financial statements answer the following questions: Indicate if the net income of the month is in line with John's expectations? . Make one clear suggestions of how the business can be improved so John can achieve and surpass his target. . Indicate if John will be able to scale up his operations in another location (Wasaga Beach) during July and August if the lead rider (manager) is to be paid $1,000 per month to operate the business on top of the salary received for the rides he/she provides.