#$2$

The adjusted trial balance for Nguyen Company, owned by C$.$ Nguyen, are as follows.

Nguyen Company

Adjusted Trial Balance

For the Year Ended December $31,2020$

Instructions

Prepare an income statement, owner's equity statement, and a classified balance sheet. C$.$ Nguyen did not make any additional investments in the business during the year.

Prepare the closing entries.

Post the closing entries to the Owner's Capital $($T account$).$

Prepare a post$-$closing trial balance.