Credit $ 25,000 54,000 TYBALT CONSTRUCTION Adjusted Trial Balance December 31 No. Account Title Debit 101 Cash $ 7,000 104 Short-term investments 24,000 126 Supplies 8,900 128 Prepaid insurance 7,400 167 Equipment 50,000 168 Accumulated depreciation-Equipment 173 Building 162,000 174 Accumulated depreciation--Building 183 Land 59,820 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 236 Unearned revenue 244 Current portion of long-term note payable 251 Long-term notes payable 307 Common stock 318 Retained earnings 319 Dividends 12,500 404 Services revenue 406 Rent revenue 407 Dividends revenue 409 Interest revenue 606 Depreciation expense-Building 11,880 612 Depreciation expense-Equipment 7,500 623 Wages expense 29,000 633 Interest expense 4,500 637 Insurance expense 8,900 640 Rent expense 12,300 652 Supplies expense 5, 100 682 Postage expense 3,400 683 Property taxes expense 4,200 684 Repairs expense 7,400 688 Telephone expense 1,800 16,000 2,500 3,000 2,000 1,400 7,800 8,000 59,000 7,000 123,300 102,000 16,500 2,100 2,500 cnn 1344 ACO my work 637 Insurance expense 640 Rent expense 652 Supplies expense 682 Postage expense 683 Property taxes expense 684 Repairs expense 688 Telephone expense 690 Utilities expense Totals 8,900 12,300 5, 100 3,400 4,200 7,400 1,800 4,500 $432,100 $432, 100 Oro Tybalt invested $7,000 cash in the business in exchange for common stock during the year. The Retained Earnings account balance was $123,300 on December 31 of the prior year. Required: 1a. Prepare the income statement for the current year ended December 31. 1b. Prepare the statement of retained earnings for the current year ended December 31. 1c. Prepare the classified balance sheet at December 31 2. Prepare the necessary closing entries at December 31 of the current year, Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 10 Required 2 Prepare the income statement for the current year ended December 31. TYBALT CONSTRUCTION Income Statement For Year Ended December 31 Revenues int