KARISE REPAIRS
Adjusted Trial Balance
December 31
Number	Account Title	Debit	Credit
101	Cash	$ 60,000
124	Office supplies	1,500
128	Prepaid insurance	2,300
167	Equipment	53,000
168	Accumulated depreciationEquipment		$ 5,300
201	Accounts payable		15,000
210	Wages payable		1,500
301	C. Karise, Capital		36,000
302	C. Karise, Withdrawals	17,000
403	Services revenue		146,100
612	Depreciation expenseEquipment	5,300
623	Wages expense	43,000
637	Insurance expense	700
640	Rent expense	14,000
650	Office supplies expense	3,200
690	Utilities expense	3,900
	Totals	$ 203,900	$ 203,900

Note: C. Karise, Capital account balance was $36,000 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.