Kindly prepare a balance sheet, closing journal entry preparation and post-closing trial balance preparation for the above information.Thank you.

CHAPTER 4 Adjustments, Financial Statements, and Financial Results 195 DAILY DRIVER, INC. Unadjusted Trial Balance At December 31 Account Name Debit Cash $1,000 This equals the bank balance. Supplies 50 Only windshield washer fluid that cost $30 remains at December 31 . This amount was paid January 2 for car insurance from January 1 through Prepaid Insurance 1,200 December 31 of this year. Equipment 40,000 This is the car's purchase price. Accumulated Depreciation The car will be two years old at the end of December. Salaries and Wages Payable DDI has not yet paid or recorded $800 of salary for December. Income Tax Payable DDI paid all its taxes from last year. Common Stock DDI issued 5,000 shares at $5 each. Retained Earnings This is the total accumulated earnings to January 1 of this year. Service Revenue All revenue is received in cash when the service is given. Salaries and Wages Expense DDI's only employee receives a monthly salary of $800 to December 31 . Supplies Expense This is the cost of windshield washer fluid used to November 30 . Depreciation Expense The car's benefits are being used up about $2,400 per year. Insurance Expense No car insurance has been paid for next year. Fuel Expense All fuel is paid for in cash. Income Tax Expense DDI's tax rate is 20 percent of income before tax. Totals $52,400$52,400