Problem 4-5A Preparing trial balances, closing entries, and financial statements LO C3, P2, P3 The adjusted trial balance of Karise Repairs on December 31, 2017, follows. KARISE REPAIRS Adjusted Trial Balance December 31, 2017 Account Title Debit Credit No . 101 Cash 124 Office supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 Accounts payable 210 Wages payable 301 C. Karise, Capital 302 C. Karise, Withdrawals 401 Repair fees earned 612 Depreciation expense-Equipment 623Wages expense 637 Insurance expense 640 Rent expense 650 Office supplies expense 690 Utilities expense $ 39,000 1,900 2,800 54,000 $ 5,400 13,000 1,200 35,000 17,500 121,400 5,400 35,000 600 12,500 3,800 3,500 Totals $176,000 $176,000 Assume there are no owner investments in 2017 Required 1a. Prepare an income statement for the year 2017 1b. Prepare a statement of owner's equity for the year 2017 1c. Prepare a classified balance sheet at December 31, 2017