Income Statement Amount (S) e Revenue 313,000 tilities Expenses 12.800 58,000 1,31,000 15,000 2,000 5,000 Rent Expenses Insurance Ex lies Expenses 2,23,800 et Income 89,200 Particulars Amount (S) ined Earnings, Beginning Balance Cash Dividend paid ined So 89,200 S0 dd: Net Income for the year as on 31/12/2018 $89,200 Amount (S) Assets Amount (S) olders' Equity n Stock d Eamings 3,200 110,000 15,000 99,000 89,200 quipment Accumulated Depreciation ble able 10,800 8000 ash 12,000 48,200 5,800 2,800 its s Receivables TOTAL $207,000 TOTAL $207,000 Fourth: Prepare the necessary closing entries. Fifth: prepare a post-closing trial balance