The adjusted trial balance for DVD Concepts at December 31, 2017, as follows:

DVD CONCEPTS

Adjusted Trial Balance

Year Ended December 31, 2017

Accounts Debit Credit

Cash $ 8,000

Accounts Receivable 16,000

Supplies 6,000

Prepaid Insurance 8,000

Computer Equipment 210,000

Accum. DepreciationComputer Equipment $ 25,000

Accounts Payable 20,000

Note Payable 71,000

Salaries Payable 3,000

J. Yan, Capital 109,000

J. Yan, Withdrawals 12,000

DVD Rental Revenue 133,000

Advertising Expense 26,000

Depreciation Expense 12,000

Rent Expense 19,000

Salaries Expense 38,000

Supplies Expense 6,000

Totals $361,000 $361,000

Additional Information:

1. The owner J. Yan invested $5,000 during the year.
2. The note payable requires a payment of principle in May 2018 in the amount of $11,000.

   (a) Prepare a Statement of Owners Equity for the Year ended December 31, 2017.

   (b) Prepare a classified balance sheet for DVD Concepts at December 31, 2017.

   (c) Journalize the closing entries at December 31, 2017.