Mystic Masters, Inc., provides fortune-telling services over the Internet. In recent years the company has experienced severe financial difficulty. Its accountant prepares adjusting entries on a monthly basis, and closing entries on an annual basis, at December 31. An adjusted trial balance dated December 31, 2011, follows. Instructions a. Prepare an income statenent and statement of retained eamings for the year ended December 31, 2011. Also prepare the company's balmee shect dated December 31, 2011. (Hint: The company incurred no income taxes expense in 2011.) b. Prepare the necessary year-end closing entries: c. Prepare an after-closing trial balance. d. Using the financial statements prepared in part a, briefly evaluate the company's performance. MYSTIC MASTERS, INC. ADJUSTED TRIAL BALANCE DECEMBER