Learning Objectives 1,2,4 P4-27A Preparing financial statements induding a cassified balance sheet in report form, preparing and posting closing entries, and preparing a Net Loss (8,700 post-closing trial balance The adjusted trial bulance of Elias Real Estate Appraisal at June 30, 2014, follows Assets Percorrent Liabihin FUIAS REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2014 Balance Account Title Debit Credit Cach AB 5.300 Offices 2.100 Pred the bulding 74.400 Acumid Depreciation-balding $26.700 Land 13.600 Aron Pay Interest Payable 00 Sabanestie 2.200 Uncam venue 360 Payable donne 40,000 El Capital 0.500 El Who 27500 Swee 4500 Stories Cape 33.300 Suple 500 Laps SO pare | 2.200 Depreciation License-Bulding 2.500 $12.7.200 $187.200 Curent Equity Total Requirements 1. Prepare the company's income statement for the year ended June 30, 2014. 2. Prepare the company's statement of owner's equity for the year ended June 30, 2014. Asume that there were no contributions made by the owner during the year. 3. Prepare the company's classified balance sheet in report form at June 30, 2014. 4. Journalize the closing entries. 5. Open the T-accounts using the balances from the adjusted trial balance and post the closing entries to the T-accounts. 6. Prepare the company's post-dosing trial balance at June 30, 2014