Mystic Masters, Inc., provides fortune-telling services over the Internet. In recent years the company has experienced s difficulty. Its accountant prepares adjusting entries on a monthly basis, and closing entries on an annual basis, at Decen adjusted trial balance dated December 31, current year follows. MYSTIC MASTERS, INC. Adjusted Trial Balance December 31, Current Year Cash Debits Credits Accounts receivable $ 960 Unexpired insurance 300 Prepaid rent 2,000 1,500 Supplies 200 Furniture and fixtures 8,400 Accumulated depreciation: furniture and fixtures $ 5,200 Accounts payable Notes payable 6,540 24,000 Salaries payable 1,700 Interest payable 360 Unearned client revenue 200 Capital stock 4,000 Retained earnings 2,600 client revenue earned 52,000 Insurance expense 6,600 office rent expense 9,000 Supplies expense 440 Salary expense 48,000 Depreciation expense: furniture and fixtures 1,400 office and telephone expense 3,000 Internet service expense Legal expense 1,500 Interest expense 4,000 Miscellaneous expense 5,000 $ 96,600 $ 96,600 4,900 + uraya de Desenle ve Olugu Required: a-1. Prepare an income statement for the year ended December 31, current year. 8-2. Prepare a statement of retained earnings for the year ended December 31, current year. a-3. Prepare the company's balance sheet dated December 31, current year. 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 e. Identify information that the compony is apt to disclose in the notes that accompany the financial statements prepared in parta Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg A3 ReqB Regc Reg D Reg E Prepare an Income statement for the year ended December 31, current year. MYSTIC MASTERS, INC. Income Statement For the Year Ended December 31, Current Year Revenues: Expenses