The adjusted trial balance for Tybalt Construction as of December 31, 2015, follows.

Problem 3-8A Preparing closing entries, financial statements, and ratios LO A1, A2, P3, P4 -2-2 http://ezto.m The adjusted trial balance for Tybalt Constructi on as of December 31, 2015, follows. TYBALT CONSTRUCTION Adjusted Trial Balance 31-Dec-15 No. Account Title Debit $ Credit 101 Cash 15,000 104 Shortterm investment s 43,000 126 Supplies 10,100 128 Prepaid insurance 9,000 167 Equipme nt 60,000 168 Accumula ted depreciatio n Equipment 173 Building 174 Accumula ted depreciatio n Building 183 Land 201 Accounts payable 203 Interest payable 4,500 208 Rent payable 5,500 210 Wages payable 4,500 213 Property taxes payable 2,900 $ 30,000 250,000 70,000 75,000 62,500 233 Unearne d profession al fees 9,500 251 Longterm notes payable 87,000 307 Common stock 7,000 318 Retained earnings 171,400 319 Dividend s 401 Professio nal fees earned 406 Rent earned 407 Dividend s earned 4,000 409 Interest earned 4,100 606 Deprecia tion expense Building 21,000 612 Deprecia tion expense Equipment 16,000 623 Wages expense 42,000 633 Interest expense 7,100 637 Insurance expense 12,000 640 Rent expense 15,400 652 Supplies expense 9,400 682 Postage expense 6,200 683 Property taxes expense 7,000 684 Repairs expense 10,900 688 Telephon e expense 5,200 690 Utilities expense 6,600 23,000 137,000 44,000 $ Totals 1.1 Prepare the income statement for the calendar year 2015 1.2 Prepare the statement of retained earnings fo r the calendar year 2015 0.3 Prepare the classified balance sheet at December 31, 2015 . Prepare the necessary closing entries at December 31, 2015. Closing entries (all dated December 31, 2015): 3 Use the informatio n in the financial statements to compute the following r atios 643,900 $ 643,900 edit