& Filupu P4.JA (LO 1, 2, 4 Financial Statement The completed financial statement columns of the work sheet for Bray Company are shown as follows. Prepare finan entries, and balance. Account 157 Bray Company Worksheet For the Year Ended December 31, 2020 Income Statement Balance Sheet No. Account Titles Dr. Cr. Dr. Cr. 101 Cash 8,800 112 Accounts Receivable 10,800 130 Prepaid Insurance 2,800 Equipment 24,000 158 Accumulated Depreciation-Equip. 4.200 Accounts Payable 9,000 Salaries and Wages Payable 2,400 Owner's Capital 19,500 Owner's Drawings 11,000 Service Revenue Maintenance and Repairs Expense 1,700 Depreciation Expense 2,800 Insurance Expense 1,800 Salaries and Wages Expense 30,000 Utilities Expense 1,400 Totals 37,700 60,000 57,400 Net Income 22.300 35,100 22,300 12 60,000 60,000 57,400 57,400 Instructions ome statement, an owner's equity statement, and a classified balance sheet. Bray did not make any additional investments during the year. de kb. Prepare the closing entries. L. Bray did not make any additional antries and underline and balance the account Totat cu 60,000 622 S