2 The adjusted trial balance of Karise Repairs on December 31, 2017, follows KARTSE REPATRS 30 Adiusted Trial Balance December 31, 2017 points No. Account Title Debit $14,000 Credit 101 Cash 124 office applies 12 Prepaid inaurance 167 Equipment 160 Accumulated depreciation-Equigment 201 Accounta payable 210 Wagen payable 1, 300 2,050 50, 000 eBook Print s, o00 14,000 eerences 600 301 C. Karise, Capital 302 C. Karise, Withhdrawals 401 Repair fees earned 612 Depreciation expense-Equipment 623 Wages expense 637 Inaurance expense 640 Rent expense 650 office aupplies expense 690 U11ities expense 33, 000 16,000 90,950 s,000 37,500 B00 10, 600 3, 600 2,700 Totala $143.550 143,550 Assume there are no owner investments in 2017 Required: 1e. Prepare an income statement for the year 2017 1b. Prepare a statement of owner's equity for the year 2017 1c. Prepare a classified balance sheet at December 31, 2017 2. Complete the work sheet using the adiusted trial balance in the first two columns of a six-column table. Use columns three and four for closing entry information and the last two columns for a post-closing trial balance 3. Using information from the work sheet in Requirement 2, prepare the appropriate closing entries Assume there are no owner investments in 2017 30 Required: 1a. Prepare an income statement for the year 2017 1b. Prepare a statement of owner's equity for the year 2017 1c. Prepare a classified balance sheet at December 31, 2017 2. Complete the work sheet using the adjusted trial balance in the first two columns of a six-column table. Use columns three and four for closing entry information and the last two columns for a post-closing trial balance. 3. Using information from the work sheet in Requirement 2, prepare the appropriate closing entries. points ellook Print References Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 1C Required 2 Required 3 Prepare an income statement for the year 2017. KARISE REPAIRS Income Statement For Year Ended December 31, 2017 Revenues Expenses