Blink-On Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Blink-On Company prepared the end-of-period spreadsheet (work sheet) at the top of the following page at March 31, 2008, the end of the current fiscal year:

Instructions 1. Prepare an income statement for the year ended March 31. 2. Prepare a statement of owner's equity for the year ended March 31. No additional investments were made during the year. 3. Prepare a balance sheet as of March 31. 4. Based upon the end-of-period spreadsheet (work sheet), journalize the closing entries. 5. Prepare a post-closing trialbalance.