Autoshop Inc.
Trial Balance
Month Ended November 30, 2022
Account Name	Debit	Credit
Cash	16,805,600
Oilfield Machinery	300,000
Computer	12,000
Table	800
Chair	1,500
Stationery	5000
Specialised Equipment	240,000
Accounts Receivable	1,000,000
Prepaid Rent	120,000
Delivery Truck	60,000
Drilling Machine	500,000
Bank Loan		10,000,000
Accounts Payable		104,900
Capital		1,000,000
Drawings	200,000
Revenue		9,050,000
Rent	60,000
Salaries	500,000
Interest expense	350,000
Balance	20,154,900	20,154,900

2. Using the information and work done for question number 1 above, prepare the following:

a. Record the closing entries.

b. Prepare postclosing trial balance, income statement and balance sheet for the year ended December 31, 2022.