O.Tybalt invested $7,000 cash in the business during year 2019 (the December 31, 2018, credit balance of the O. Tybalt, Capital account was $126,800). Required: 1a. Prepare the income statement for the calendar year 2019 1b. Prepare the statement of owner's equity for the calendar year 2019. 1c. Prepare the classified balance sheet at December 31, 2019. 2. Prepare the necessary closing entries at December 31, 2019, 3. Use the information in the financial statements to compute the following ratios: Complete this question by entering your answers in the tabs below. Prepare the income statement for the calendar year 2019. S Revenues TYBALT CONSTRUCTION Income Statement For Year Ended December 31, 2019 plus S E Total revenues Expenses and S elfie With Total expenses Prepare the statement of owner's equity for the calendar year 2019. TYBALT CONSTRUCTION Statement of Owner's Equity For Year Ended December 31, 2019 0. Tybalt, Capital, Dec 31, 2018 O. Tybalt, Capital, Dec 31, 2019 Required 1A Required 10 > of Chapter Problems i Saved Balance Sheet December 31, 2019 View transaction list Journal entry worksheet 23 Record the entry to close revenue account(s). Note: Enter debits before credits. General Journal Credit Date Dec 31 Debit AM Record entry Clear entry View general journal Required 10 Required 3 > Journal entry worksheet Record the entry to close expense account(s). Note: Enter debits before credits. Date Dec 31 General Journal Debit Credit Record entry Clear entry View general journal Prepare the necessdly CIUSIMY elules dl veterver 31, 2019. View transaction list Journal entry worksheet Journal entry worksheet Record the entry to close the withdrawals account. Note: Enter debits before credits General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal Required 1A Required 1B Required 1C Required 2 Required 3 Use the information in the financial statements to compute the following ratios: (a) Return on assets (total assets at December 31, 2018, was $200,000), Numerator: Denominator: Return on total assets Return on total assets (b) Debt ratio Numerator: I D enominator:- Debt ratio Debt ratio 1 = (c) Profit margin ratio (use total revenues as the denominator) Numerator: Denominator: Profit margin Profit margin (d) Current ratio Numerator: Denominator: Current ratio Current ratio