1a. Prepare the income statement for the calendar-year 2017. 1b. Prepare the statement of owner's equity for the calendar-year 2017. 1c. Prepare the classified balance sheet at December 31, 2017. 2. Prepare the necessary closing entries at December 31, 2017. 3. Use the information in the financial statements to compute the following ratios:

KARISE REPAIRS Adjusted Trial Balance December 31, 2017
No.	Account Title	Debit				Credit
101	Cash	$	97,000
124	Office supplies		1,200
128	Prepaid insurance		2,250
167	Equipment		52,000
168	Accumulated depreciationEquipment					$	5,200
201	Accounts payable						14,500
210	Wages payable						700
301	C. Karise, Capital						35,000
302	C. Karise, Withdrawals		16,500
401	Repair fees earned						177,450
612	Depreciation expenseEquipment		5,200
623	Wages expense		35,000
637	Insurance expense		1,500
640	Rent expense		14,000
650	Office supplies expense		3,900
690	Utilities expense		4,300
	Totals	$	232,850			$	232,85