Problem 4-4A Preparing closing entries, financial statements, and ratios LO C3, A1, P2 The adjusted trial balance for Tybalt Construction as of December 31,2015, follows TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2015 Credit Account Title S 6,000 24,000 9,900 7.900 45,000 101 Cash 104 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 73 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 233 Unearned professional fees 251 Long-term notes payable 301 O. Tybalt, Capital 302 O. Tybalt, Withdrawals 22,500 174000 58,000 56,090 16,500 2.300 3.400 2.400 1,400 7.400 69,000 10200 131 400 100,000 16,500 2,200 2.800 401 Professional fees earned 406 Rent earned Dividends earned 409 Interest eamed Building 606 Depreciation expense-Building 612 Depreciation 623 Wages expense 633 Interest expense 637 Insurance expense 640 Rent expense 12,760 6.750 29,000 3.900 9,400 12,500 6,400 652 Supplies expense 682 Postage expense 683 Property taxes expense 684 Repairs expense 688 Telephone expense 690 Utilities expense 4.800 7.800 2,200 3.100 Totals $435,800 $435.800 0 O Tybalt invested $6,000 cash in the business during year 2015 (the December 31, 2014, credit balance of the O. Tybalt, Capital account was $125,400). Tybalt Construction is required to make a $6,500 payment on its long-term notes payable during 2016