The adjusted trial balance columns of the work sheet for Jake Mann Company, owned by Jake Mann, are as follows.

                                

Instructions
  (a) Prepare an income statement, owner’s equity statement, and a classified balance sheet (Note: $10,000 of the notes payable become due in 2013.) Jake Mann did not make any additional investments in the business during the year.
  (b) Prepare the closing entries. Use J14 for the journal page.
  (c) Post the closing entries. Use the three-column form of account. Income Summary is No. 350.
  (d) Prepare a post-closing trial balance.