The adjusted trial balance for Tybalt Construction as of December 31, 2017, follows.

TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2017
No.	Account Title	Debit				Credit
101	Cash	$	5,500
104	Short-term investments		24,000
126	Supplies		9,200
128	Prepaid insurance		8,400
167	Equipment		45,000
168	Accumulated depreciationEquipment					$	22,500
173	Building		171,000
174	Accumulated depreciationBuilding						57,000
183	Land		57,910
201	Accounts payable						17,500
203	Interest payable						2,300
208	Rent payable						3,500
210	Wages payable						3,000
213	Property taxes payable						1,100
233	Unearned professional fees						7,400
251	Long-term notes payable						68,000
301	O. Tybalt, Capital						130,100
302	O. Tybalt, Withdrawals		12,300
401	Professional fees earned						101,000
406	Rent earned						16,000
407	Dividends earned						2,100
409	Interest earned						2,300
606	Depreciation expenseBuilding		12,540
612	Depreciation expenseEquipment		6,750
623	Wages expense		28,000
633	Interest expense		4,100
637	Insurance expense		8,800
640	Rent expense		11,200
652	Supplies expense		7,200
682	Postage expense		3,100
683	Property taxes expense		4,700
684	Repairs expense		7,300
688	Telephone expense		3,000
690	Utilities expense		3,800
	Totals	$	433,800			$	433,800

O. Tybalt invested $5,500 cash in the business during year 2017 (the December 31, 2016, credit balance of the O. Tybalt, Capital account was $124,600). Tybalt Construction is required to make a $7,500 payment on its long-term notes payable during 2018. Required: 1a. Prepare the income statement for the calendar-year 2017. 1b. Prepare the statement of owner's equity for the calendar-year 2017. 1c. Prepare the classified balance sheet at December 31, 2017. 2. Prepare the necessary closing entries at December 31, 2017. 3. Use the information in the financial statements to compute the following ratios: http://prntscr.com/mwlyno