The adjusted trial balance columns of the worksheet for Cullumber Company, owned by C. Cullumber, are as follows. Account No. 101 112 126 130 157 158 200 201 Cullumber Company Worksheet For the Year Ended December 31, 2020 Adjusted Trial Balance Account Titles Dr. Cr. Cash 5,200 Accounts Receivable 10,700 Supplies 1,600 Prepaid Insurance 2,200 Equipment 26,500 Accumulated Depreciation-Equipment 5,300 Notes Payable 12,900 Accounts Payable 5,800 Salaries and Wages Payable 2,600 Interest Payable 500 Owner's Capital 13,000 Owner's Drawings 7,000 Service Revenue 62,200 Advertising Expense 8,100 Supplies Expense 4,200 Depreciation Expense 5,300 Insurance Expense 3,100 Salaries and Wages Expense 27,900 Interest Expense 500 Totals 102,300 102,300 212 230 301 306 400 610 631 711 722 726 905 Complete the worksheet by extending the balances to the financial statement columns. CULLUMBER COMPANY Partial Worksheet Income Statement Balance Sheet Adjusted Trial Balance Dr. Cr. Account No. Account Titles Dr. Cr. Dr. 101 Cash 5,200 112 Accounts Receivable 10,700 126 Supplies 1,600 130 Prepaid Insurance 2,200 157 Equipment 26,500 158 Accumulated Depreciation - Equipment 5,300 200 Notes Payable 12,900 201 Accounts Payable 5,800 212 Salaries and Wages Payable 2,600 230 Interest Payable 500 301 Owner's Capital 13,000 PRINTL 212 Salaries and Wages Payable 2,600 230 Interest Payable 500 301 Owner's Capital 13,000 306 Owner's Drawings 7,000 400 Service Revenue 62,200 610 8,100 Advertising Expense Supplies Expense 631 4,200 711 Depreciation Expense 5,300 722 Insurance Expense 3,100 726 Salaries and Wages Expense 27,900 905 Interest Expense 500 Totals 102,300 102,300 Net Income Totals Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number .g.-45 or parentheses .g. (45).) CULLUMBER COMPANY Income Statement Prepare an owner's equity statement. C. Cullumber did not make any additional investments in the business during 2021. CULLUMBER COMPANY Owner's Equity Statement 1 Prepare a classified balance sheet. $3,225 of the notes payable become due in 2021. (Ust Current Assets in order of liguld CULLUMBER COMPANY Balance Sheet Assets TI CES Llabilities and Owner's Equity tudy JIJI Prepare the closing entries. (Credit account titles are automatically Indented when amount is Date Account Titles and Explanation Debit Credit Dec. 31 (To close revenue account) Dec. 31 (To close expense accounts) Dec. 31 (To close net income / (loss)) Dec. 31 (To close revenue account) Dec. 31 (To close expense accounts) Dec. 31 (To close net income / (loss)) Dec. 31 (To close drawings) Post the closing entries. (Post entries in the order of journal entries pre No. 301 Owner's Capital Date Explanation Ref. Debit Credit Balance Jan. 31 Balance Dec. 31 Closing entry J14 Dec. 31 Closing entry J14 Owner's Drawings Date Explanation Ref. Debit No. 306 Credit Balance Dec. 31 Balance Dec. 31 Closing entry J14 No. 350 Income Summary Date Explanation Ref. Debit Credit Balance Dec. 31 Closing entry J14 Dec. 31 Closing entry J14 Dec. 31 Closing entry J14 Service Revenue No. 400 Balance Date Explanation Ref. Debit Credit Dec. 31 Balance Dec. 31 Closing entry J14 No. 610 Advertising Expense Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Dec. 31 Closing entry J14 No. 631 Supplies Expense Explanation Ref. Debit Date Credit Balance Dec. 31 Balance Dec. 31 Closing entry J14 No. 711 Depreciation Expense Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Dec. 31 Closing entry J14 Insurance Expense Date Explanation Ref. Deblt No. 722 Balance Credit Dec. 31 Balance Dec. 31 Closing entry J14 Salaries and Wages Expense Date Explanation Ref. Debit No. 726 Balance Credit Dec. 31 Balance Dec. 31 Closing entry J14 No. 905 Interest Expense Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Dec. 31 Closing entry J14 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Prepare a post-closing trial balance. CULLUMBER COMPANY Post-Closing Trial Balance Debit Credit Totals