Below is the adjusted Trial Balance for Little Lad & Ladies Clothing Company for the year ended December 31, 20X1
			Debit	Credit
Cash			3,000
Accounts Receivable			10,000
Prepaid Expenses			400
Inventory			8,000
Supplies			800
Equipment			23,000
Accumulated Amortization- Equipment				1,500
Accounts Payable				5,000
Wages Payable				500
Interest Payable				300
Bank Loan Payable				3,800
Capital ,Owner				35,500
Withdrawals, Owner			5,000
Sales Revenue				66,450
Cost of Goods Sold			27,000
Wages Expense			25,000
Supplies Expense			4,200
Rent Expense			4,800
Advertising Expense			750
Depreciation Expense			500
Telephone Expense			200
Repairs & Maintenance Expense			400
			113,050	113,050
Required:
a) Prepare an Income Statement in good form
b) Prepare all Closing entries
c) Prepare a Balance Sheet in good form