Johnson Corporation is completing the accounting information processing cycle at the end of the fiscal year, June 30, 2016. Johnson has provided the following trial balances as of June 30, 2016: 
Required:
A.Reconstruct the adjusting entries and prepare a brief explanation of each.
B.What is the amount of net income?
C.Calculate earnings per share (EPS) assuming 1,000 shares of common stock are outstanding.
Definitions:
Accounting Software
Accounting software is a computer program that assists bookkeepers and accountants in recording and reporting a firm's financial transactions, offering features like payroll, invoicing, and ledger management.
Involuntary Turnover
The termination of employees from an organization for reasons beyond their control, such as layoffs or company downsizing.
Technical Support
Assistance provided to users of technology products or services in solving hardware or software problems.
Merger Success
The successful integration and performance improvement following the merger of two companies.
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