Note C. Karise, Capital account balance was $32,000 on December 31 of the prior year, and there were no owner investinents during the year: Required: 10. Prepare an income statement for the year. 1b. Prepare a statement of owner's equity for the year: 1c. Preoare a classified balance sheet at December 31 . Required: 1a. Prepare an income statement for the year. 1b. Prepare a statement of owner's equity for the year. 1c. Prepare a classified balance sheet at December 31 . 2. Prepare the December 31 closing entries. Prepare an income statement for the year. Prepare a statement of owner's equity for the year. Prepare a classified balance sheet at December 31 . Required 1B Required 2 \begin{tabular}{|c|c|c|c|c|c|} \hline & No & Date & General Jour & Debit & Credit \\ \hline \multirow[t]{3}{*}{7} & 1 & December 31 & Services revenue & 158,350 & \\ \hline & 1 & & Income summary & & 158,350 \\ \hline & 4 & & & & \\ \hline \multirow[t]{7}{*}{7} & 2 & December 31 & Income summary & 64,900 & \\ \hline & 13 & & Depreciation expense-Equipment & & 5,100 \\ \hline & & & Wages expense & & 38,000 \\ \hline & He & & Insurance expense & & 900 \\ \hline & 13 & & Rent expense & & 14,000 \\ \hline & & & Office supplies expense & & 3,200 \\ \hline & & & Utilities expense & & 3,700 \\ \hline & H & 11 & B & & \\ \hline \multirow[t]{3}{*}{7} & 3 & December 31 & Income summary & 93,450 & \\ \hline & II & & C. Karise, Capital & & 93.450 \\ \hline & 1 & & 147 & & \\ \hline \multirow[t]{2}{*}{1} & 4 & December 31 & C. Karise, Capital & 16,000 & \\ \hline & & & C. Karise, Withdrawals & & 16,000 \\ \hline \end{tabular} Required 1C Required 1B Prepare a statement of owner's equity for the year. Prenare a classified balance sheet at December 31 . Required 1B Required 2 Prepare the December 31 closing entries. \begin{tabular}{|c|c|c|c|c|c|} \hline 2 & December 31 & Income summary & ( ) & 64,900 & \\ \hline & & Depreciation expense-Equipment & 0 & & 5,1000 \\ \hline & & Wages expense & 0 & & 38.0000 \\ \hline & & Insurance expense & 0 & & 9000 \\ \hline & & Rent expense & 0 & & 14,0000 \\ \hline & & Office supplies expense & 0 & & 3,2000 \\ \hline & & Utilities expense & 0 & & 3,700 \\ \hline & - & & & & \\ \hline 3 & December 31 & Income summary & ( & 93,450 & \\ \hline & & C. Karise, Capital & 0 & & 93,450 \\ \hline & & & & & \\ \hline 4 & December 31 & C. Karise, Capital & & 16,000 & \\ \hline & & C. Karise, Withdrawals & 8 & & 16,000 \\ \hline \end{tabular} Required 1C Poruirese balance sheet at December 31 . ber 31 closing entries. Answer is not complete stion by entering your answers in the tabs below. er 31 closing entries
