Directions: Present your analysis of the assigned problems in Excel format. Enter non-numerical responses in the same worksheet using textboxes.Start from the trial balance and the posted T-accounts that Haupt Consulting prepared at December 18, as follows; Haupt ConsultingTrial BalanceDecember 18, 2010 BalanceAccount Title Debit Credit Cash $8,100Account Receivable 1,700Supplies 300Equipment 2,000Accumulated depreciation-equipment Furniture 3,600Accumulated depreciation-furnitureAccounts payable $3,900Salary payableUnearned service revenueCarl Haupt, CapitalCarl Haupt, WithdrawalsService RevenueRent expenseUtilities expenseSalary expenseDepreciation expense-equipment Depreciation expense- furnitureSupplies expense __________ ______________Total $16,400 $16,400Later in December, the business completed these transactions, as follows: Dec 21 Received $900 in advance for client service to be performed evenly over the next 30 days 21 Hired a secretary to be paid $1,500 on the 20th day of each month. The secretary begins work immediately. 26 Paid $300 on account 28 Collected $600 on account. 30 Owner withdrew $1,600 This problem continues the Haupt consulting situation. Start from the posted T-accounts and the adjusted trial balance that Haupt Consulting prepared for the company at December 31: Haupt Consulting Adjusting Trial Balance December 31,2010 BalanceAccount Title Debit CreditCash $7,700Accounts receivable 1,500Supplies 100Equipment 2,000Accumulated depreciation-equipment $33Furniture 3,600Accumulated depreciation-furniture 60Accounts payable 3,600Salary payable 700Unearned service revenue 600Carl Haupt, Capital 10,000Carl Haupt, Withdrawals 1,600Service Revenue 3,200Rent expense 500Utilities expense 200Salary expense 700Depreciation expense-equipment 33depreciation expense-furniture 60Supplies expense 200 _________Total 18,193 18,1931. Complete the accounting work sheet at December 31.2. Journalize and post the closing entries at December 31. Denote each closing amount as Clo and an account balance as Bal. 3. Prepare a classified balance sheet at December 31.