Prepare an income statement, balance sheet, and post closing trial balance

The general ledger of the Karlin Company, a consulting company, at January 1, 2018, contained the following account balances Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total Debits Credits 29,600 16,500 28,000 8,400 9,250 47,500 8,950 74,100 74,100 The following is a summary of the transactions for the year: a. Sales of services, $128,000, of which $38,400 was on credit. b. Collected on accounts receivable, $25,900 c. Issued shares of common stock in exchange for $14,500 in cash d. Paid salaries, $46,750 (of which $9,250 was for salaries payable) e. Paid miscellaneous expenses, $25,200 f. Purchased equipment for $17,000 in cash g. Paid $3,100 in cash dividends to shareholders 1. Accrued salaries at year-end amounted to $935 2. Depreciation for the year on the equipment is $2,800