KARISE REPAIRS Adjusted Trial Balance December 31 Number Account Title Debit Credit 101 Cash $ 14,000 124 Office supplies 1,300 128 Prepaid insurance 2,050 167 Equipment 50,000 168 Accumulated depreciation-Equipment $ 5,000 201 Accounts payable 14,000 210 Wages payable 600 301 C. Karise, Capital 33,000 302 C. Karise, Withdrawals. 16,000 403 Services revenue 90,950 612 Depreciation expense-Equipment 5,000 623 Wages expense 37,500 637 Insurance expense 800 640 Rent expense 10,600 650 Office supplies expense 3,600 690 Utilities expense Totals 2,700 $ 143,550 $ 143,550 Note: C. Karise, Capital account balance was $33,000 on December 31 of the prior year, and there were no owner investments during the year. Required: 1a. Prepare an income statement for the year. 1b. Prepare a statement of owner's equity for the year. 1c. Prepare a classified balance sheet at December 31. 2. Prepare the December 31 closing entries