P4-3 (LO 1, 2, 4), AP Financial Statement The completed financial statement columns of the spreadsheet for Bray Company are shown as follows. Bray Company For the Year Ended December 31, 2022 Income Statement Account No. 101 112 130 157 158 201 212 301 306 400 622 711 722 726 732 Account Titles Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries and Wages Payable Owner's Capital Owner's Drawings Service Revenue Maintenance and Repairs Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Utilities Expense Totals Net Income Dr. Cr. 60,000 Balance Sheet Dr. 8,800 10,800 2,800 24,000 11,000 Cr. 4,200 9,000 2,400 19,500 1,700 2,800 1,800 30,000 1,400 37,700 60,000 57,400 35,100 22,300 22,300 60,000 60,000 57,400 57,400 Instructions a. Prepare an income statement, an owner's equity statement, and a classified balance sheet. a. Ending capital $30,800 Total current assets $22,400 b. Prepare the closing entries. L. Bray did not make any additional investments during the year. c. Enter the December 31 balances in the ledger accounts. Post the closing entries and underline and balance the accounts. (Use T-accounts.) Income Summary is account No. 350. d. Prepare a post-closing trial balance. d. Post-closing trial balance $46,400

Instructions a. Prepare an income statemest, an owner's equity statement, and a classified balance shert. a. Eading capital $30,800 Total curnet assets $23,400 b. Prepare the closing entries. L. Bray did not make any additional investments during the year e. Enter the Decembet 31 balances in the ledger accounts. Fost the cloning entries and andetline and bulance the accounts. (Use T.accounts.) Incone Summary is account Na. 350 d. Prepare a post-doning trial balance. 4. Foxt-closing trial halaner $46,400