1. The completed financial statement columns of the worksheet for Blossom Company are shown as follows:

Blossom Company Worksheet For the Year Ended December 31, 2020
				Income Statement				Balance Sheet
Account No.		Account Titles		Dr.		Cr.		Dr.		Cr.
101		Cash						9,000
112		Accounts Receivable						10,600
130		Prepaid Insurance						2,800
157		Equipment						24,100
158		Accumulated DepreciationEquip.								4,300
201		Accounts Payable								8,900
212		Salaries and Wages Payable								2,300
301		Owners Capital								20,000
306		Owners Drawings						10,300
400		Service Revenue				60,100
622		Maintenance and Repairs Expense		1,800
711		Depreciation Expense		3,200
722		Insurance Expense		2,000
726		Salaries and Wages Expense		30,200
732		Utilities Expense		1,600
		Totals		38,800		60,100		56,800		35,500
		Net Income		21,300						21,300
				60,100		60,100		56,800		56,800

a. Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

b. Prepare owners equity statement. (List items that increase owner's equity first.)

c. Prepare a classified balance sheet. (List Current Assets in order of liquidity.)

d. Prepare the closing entries. L. Blossom did not make any additional investments during the year. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

e. Post the closing entries and balance the accounts. (Post entries in the order of journal entries presented in the previous part.)

f. Prepare a post-closing trial balance.