Panic Company Adjusted Trial Balance December 31, 2017 Acco $7,000 Marketable Securities Accounts Receivable Office Supplies Prepaid Rent Prepaid Marketing Fees 14,000 Buildings Accumulated Depreciation Buildings Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Notes Payable Mortgage Payable Common Stock Retained Earnings Service Revenue Rental Revenue Wages Expense Office Supplies Expense Utilities Expense Payroll Taxes Expense Total $40,000 130,000 55,000 6,000 12,000 4,000 60,000 20,000 18,000 160,000 18,000 S393,000 $393000 Required: Using the adjusted trial balance above, prepare each of the following for the year ended 1231 a.Income Statement b.Statement of Retained Earnings c.Balance Sheet d. Closing entries