I need help with this scenario please:

Directions:

After the success of the company's first two months, K. Wilson continues to operate Business Solutions. The December 31, adjusted trial balance of Business Solutions follows:

1. Prepare an income statement for the month ended December 31.
2. Prepare a statement of owner's equity for the month ended December 31. (Note: The company just began operations on January 1)
3. Prepare a balance sheet as of December 31.
4. Record and post the necessary closing entries for Business Solutions. Then prepare a post-closing trial balance as of December 31.
5. Based on your knowledge of GAAP, evaluate the financial statements you have prepared. How do you think the business is doing in its first year of operations? Would you invest in this business? Why or Why not?

Business Solutions
Income Statement
For Year Ended December 31

Business Solutions

Statement of Owners Equity

For Year Ended December 31

Business Solutions
Balance Sheet
For Year Ended December 31

Closing Entries:

Date

Account

Debit

Credit

Business Solutions

Post Closing Trial Balance

December 31

Account Title Credit $ 8,000 7,500 3,000 172,000 Office supplies Trucks $ 36,000 Accounts payable Interest payable Long-term notes payable K Wilson, Capital K. Wilson, Withdrawals 2,000 4,000 53,000 175,000 20,000 30,000 Depreciation expense Trucks Salaries expense Office supplies expense Repairs expense-Trucks 61,000 8,000 2,000 $410,000 $410,000