Round Grove Alarm Company provides security services to homes in northwestern Indiana. At year end 2019, after adjusting entries have been made, the following list of account balances is prepared:

Required:
1. Prepare closing entries for Round Grove Alarm.
2. Prepare an income statement for Round Grove Alarm?

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Accounts Payable Accounts Receivable Accumulated Depreciation (Equipment) Common Stock Depreciation Expense (Equipment) Dividends Equipment Income Taxes Expense Income Taxes Payable Interest Expense Notes Payable (due in 2022) Other Assets $ 23,250 36,800 Prepaid Rent Rent Expense Retained Earnings, 12/31/2018 Salaries Expense Salaries Payable Service Revenue $ 4,750 27,600 29,400 148,250 150,000 45,300 6,000 409,500 30,800 24,300 4,800 612,900 12,700 Supplies Expense 51,900 48,800 183,500 Utilities Expense Wages Expense Wages Payable 34,000 7,700 7,950