Requirements

1.	Prepare a worksheet for Fugazy Investment Advisers at December 31 2018
2.	Prepare the income statement, the statement of retained earnings, and the classified balance sheet in account format.
3.	Prepare closing entries.

Income Balance Unadjusted Trial Balance Adjusted Trial Balance Adjustments Statement Sheet Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit 25,000 46,000 7,500 25,000 Cash Accounts Rec. Office Supp. Equipment Accum. Depr. Accounts Pay. Salaries Pay. Unearn. Rev. Note Pay. (I/t) Common Stk 14,000 14,000 JOOOOOOOOOO 4,500 23,000 || 21,000 23,500 ODDODDDDD Ret. Earnings Dividends 35,000 Service Rev. 95,0000000 Service Rev. 95,000 3,500 37,000 Ins. Exp. Salaries Exp. Supplies Exp. Interest Exp. Rent Exp. OOOOOOOO 4,000 12,000 Depr. Exp. 195,000|195,000 Total Net income or loss Fugazy Investment Advisers Statement of Retained Earnings Year Ended December 31, 2018 Retained Earnings, January 1, 2018 Retained Earnings, December 31, 2018 Balance Sheet December 31, 2018 Assets Liabilities Stockholders' Equity Less: Fugazy Investment Advisers Income Statement Year Ended December 31, 2018 Net Income (Loss) Income Balance Unadjusted Trial Balance Adjusted Trial Balance Adjustments Statement Sheet Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit 25,000 46,000 7,500 25,000 Cash Accounts Rec. Office Supp. Equipment Accum. Depr. Accounts Pay. Salaries Pay. Unearn. Rev. Note Pay. (I/t) Common Stk 14,000 14,000 JOOOOOOOOOO 4,500 23,000 || 21,000 23,500 ODDODDDDD Ret. Earnings Dividends 35,000 Service Rev. 95,0000000 Service Rev. 95,000 3,500 37,000 Ins. Exp. Salaries Exp. Supplies Exp. Interest Exp. Rent Exp. OOOOOOOO 4,000 12,000 Depr. Exp. 195,000|195,000 Total Net income or loss Fugazy Investment Advisers Statement of Retained Earnings Year Ended December 31, 2018 Retained Earnings, January 1, 2018 Retained Earnings, December 31, 2018 Balance Sheet December 31, 2018 Assets Liabilities Stockholders' Equity Less: Fugazy Investment Advisers Income Statement Year Ended December 31, 2018 Net Income (Loss)