SP 4 Serial Problem (Static) Business Solutions LO P2 The December 31, 2021, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2021) follows. Credit Number 101 106 126 Debit $ 48,372 5,668 580 1,665 825 8, eee 128 $ 400 20,eee 1,25e 1,100 See 1,500 ae Account Title Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciation-office equipment Computer equipment Accumulated depreciation-Computer equipment Accounts payable Wages payable Unearned computer services revenue S. Rey, Capital S. Rey, withdrawals Computer services revenue Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer Income summary Totals 7,100 131 163 164 167 168 201 210 236 301 392 403 612 613 623 637 640 652 655 676 677 684 981 31,284 400 1,250 3,875 555 2,475 3,065 2,753 896 250 1, 3e5 $ 199,834 $ 109,034 Required: 1. Prepare an income statement for the three months ended December 31, 2021. 2. Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint The S. Rey. Capital account balance was $0 on October 1, and owner investments were $73.000 this period. 3. Prepare a classified balance sheet as of December 31, 2021. 4. Record the closing entries as of December 31, 2021. 5. Prepare a post-closing trial balance as of December 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare an income statement for the three months ended December 31, 2021. BUSINESS SOLUTIONS Income Statement For Three Months Ended December 31, 2021 Revenue Expenses Total expenses