Mei-ling had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Mei-ling prepared the following adjusted trial balance.

Instructions
Using the information in the adjusted trial balance, do the following.
(a) Prepare an income statement and a retained earnings statement for the 2 months ended December 31, 2017, and a classified statement of financial position at December 31, 2017. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2019.
(b) Mei-ling has decided that her year-end will be December 31, 2017. Prepare closing entries as of December 31, 2017.
(c) Prepare a post-closing trial balance.

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MATCHA CREATIONS Adjusted Trial Balance December 31, 2017 Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Service Revenue Notes Payable Interest Payable Share Capital-Ordinary Dividends Service Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Supplies Expense Depreciation Expense Insurance Expense Interest Expense NT$1,180 875 350 1,210 1,200 NTS 40 75 56 300 2,000 500 4,515 1,006 125 165 1,025 110 NT$7,801 NT$7,801