The following transactions apply to Cullman Enterprises for 2013, its first year of operations:

1. Received $60,000 cash from the issue of a short term note with a 6 percent interest rate and a one year maturity. The note was made on April 1, 2013. 
2. Received $150,000 cash plus applicable sales tax from performing services. The services are subject to a sales tax rate of 6 percent. 
3. Paid $75,000 cash for other operating expenses during the year. 
4. Paid the sales tax due on $130,000 of the service revenue for the year. Sales tax on the balance of the revenue is not due until 2014. 
5. Recognized the accrued interest at December 31, 2013.

The following transactions apply to Cullman Enterprises for 2014:

1. Paid the balance of the sales tax due for 2013. 
2. Received $195,000 cash plus applicable sales tax from performing services. The services are subject to a sales tax rate of 6 percent. 
3. Repaid the principal of the note and applicable interest on April 1, 2014. 
4. Paid $106,500 of other operating expenses during the year. 
5. Paid the sales tax due on $190,000 of the service revenue. The sales tax on the balance of the revenue is not due until 2015.

Required:

a. Record the 2013 transactions in general journal form. 
b. Post the transactions to T-accounts. 
c. Prepare a balance sheet, statement of changes in stockholders equity, income statement, and statement of cash flows for 2013. 
d. Prepare the closing entries and post them to the T-accounts. 
e. Prepare a post closing trial balance. 
f. Repeat Requirements a through e for 2014.