The adjusted trial balance for Tybalt Construction as of December 31, 2019, follows. Credit $ 30,000 52,000 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019 No. Account Title Debit 101 Cash $ 7,500 104 Short-term investments 25,000 126 Supplies 9,700 128 Prepaid insurance 7,800 167 Equipment 60,000 168 Accumulated depreciation-Equipment 173 Building 156,000 174 Accumulated depreciation-Building 183 Land 58,960 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 233 Unearned professional fees 244 Current portion of long term note payable 251 Long-term notes payable 307 Common stock 318 Retained earnings 319 Dividends 11,000 401 Professional fees earned 406 Rent earned 407 Dividends earned 409 Interest earned 606 Depreciation expense-Building 11,440 612 Depreciation expense-Equipment 9,000 623 Wages expense 31,500 633 Interest expense 3,100 637 Insurance expense 7,500 640 Rent expense 12,700 652 Supplies expense 7,300 682 Postage expense 4,100 683 Property taxes expense 3,800 684 Repairs expense 6,300 688 Telephone expense 2,100 690 Utilities expense 3,300 Totals $438,100 17,500 2,800 3,000 2,100 1,000 7,300 7,500 62,500 7,500 125,400 98,000 16,000 2,700 2,800 $438,100 O. Tybalt invested $7,500 cash in the business in exchange for common stock during year 2019. The December 31, 2018, credit balance of the Retained Earnings account was $125,400. Required: 1a. Prepare the income statement for the calendar-year 2019. 1b. Prepare the statement of retained earnings for the calendar-year 2019. 1c. Prepare the classified balance sheet at December 31, 2019. 2. Prepare the necessary closing entries at December 31, 2019. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Required 2 Prepare the income statement for the calendar-year 2019