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Outreach Signals Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Outreach Signals Company prepared the following end-of-period spreadsheet at December 31,20Y1, the end of the fiscal year: Required: 1. Prepare an income statement for the year ended December 31 . Be sure to complete the statement heading. Refor to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. You will not need to enter colons (i) on the income statement. 2. Prepare a statement of owner's equity for the year ended December 31 . No additional investments were made during the year. Be sure to complete the statement heading. Refer to the list of Labeis and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 3. Prepare a balance sheet as of December 31. Fxied assets must be entered in order according to account number. Be sure to complete the statment heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. You will not need to enter calons () or the word "Less" on the balance sheet, they will automatically insert where necessary. Enter all values as positive amounts. 4. Based upan the end-ot-period spreadsheet, joumalize the closing entries. Explanations should be omitted. Refer to the chart of accounts for the exact wording of the account tities. CNOW journals do not use lines for journal explanations. Every line on a joumal page is used for debit or credit enthes. CNOW journals will aufomatically indent a credit entry when a credit amount is entered