Complete the Following :

1)Statement on Owners Equity

2)Classified Balance Sheet

3)Closing Entries

4)Post-Closing Trail Balance

Jim's Building Supplies
Income Statement
For the Year Ended December 31, 2020
Sales			$ 11,040
Less: Sales Discounts		$ 216
Sales Returns and Allowances		546	762
Net Sales			$ 10,278
Cost of Goods Sold			6,336
Gross Profit			$ 3,942
Operating Expenses
Selling Expenses
Store Wages Expense		6,542
Store Rent Expense		3,200
Delivery Expense		480
Advertising Expense		622
Total Selling Expenses			10,844
General and Administrative Expenses
Office Salaries Expense		1,716
Office Rent Expense		1,792
Utilities Expense		412
Office Supplies Expense		489
Insurance Expense		600
Telephone Expense		114
Miscellaneous Expense		96
Dep. Exp. Equipment		543
Dep. Exp. Auto		1,010
Total General and Administrative Expenses			6,772
Total Operating Expenses			17,616
Income from Operations			(13,674)
Other Revenues and Expenses
Service Revenue		6,060
Interest Expense		1,250
Total Other Revenues and Expenses			4,810
Net Income			(8,864)

Points :

1. The physical count of merchandis inventory shows that we have $9,250 of MI on hand.

2. Used 1/2 of the prepaid insurance.

3. We have $116 of office supplies on hand.

4. Depreciation expense on equipment is $543.

5. Depreciation expense, auto is $1,010

6. We have earned 40% of our unearned service revenue

7. Long-term Note Payable charges interest of 5% per year due next month.

8. We have 4 store employees who earn $150 per day. They have worked 6 days this year but won't get paid until next year.

Based on above information, kindly update the following.

1)Statement on Owners Equity

2)Classified Balance Sheet

3)Closing Entries

4)Post-Closing Trail Balance