The adjusted trial balance for Tybalt Construction as of December 31, 2019, follows.

TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019
No.	Account Title	Debit				Credit
101	Cash	$	6,500
104	Short-term investments		24,000
126	Supplies		8,400
128	Prepaid insurance		7,000
167	Equipment		40,000
168	Accumulated depreciationEquipment					$	20,000
173	Building		156,000
174	Accumulated depreciationBuilding						52,000
183	Land		72,660
201	Accounts payable						16,000
203	Interest payable						2,100
208	Rent payable						3,900
210	Wages payable						2,100
213	Property taxes payable						800
233	Unearned professional fees						7,300
244	Current portion of long term note payable						9,000
251	Long-term notes payable						59,000
307	Common stock						6,500
318	Retained earnings						121,300
319	Dividends		11,400
401	Professional fees earned						101,000
406	Rent earned						15,500
407	Dividends earned						2,000
409	Interest earned						2,600
606	Depreciation expenseBuilding		11,440
612	Depreciation expenseEquipment		6,000
623	Wages expense		28,000
633	Interest expense		4,600
637	Insurance expense		7,300
640	Rent expense		12,400
652	Supplies expense		5,600
682	Postage expense		3,400
683	Property taxes expense		4,700
684	Repairs expense		6,000
688	Telephone expense		2,600
690	Utilities expense		3,100
	Totals	$	421,100			$	421,100

O. Tybalt invested $6,500 cash in the business in exchange for common stock during year 2019. The December 31, 2018, credit balance of the Retained Earnings account was $121,300. 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.

Required 1A Required 1B Required 1c Required 2 Prepare the income statement for the calendar-year 2019. TYBALT CONSTRUCTION Income Statement For Year Ended December 31, 2019 Revenues Professional fees earned Rent earned Interest earned Total revenues $ 0 Expenses Total expenses 0 Required 1A Required 1B Required 1c Required 2 Prepare the statement of retained earnings for the calendar-year 2019. TYBALT CONSTRUCTION Statement of Retained Earnings For Year Ended December 31, 2019 Retained earnings, Dec. 31, 2018 0 Retained earnings, Dec. 31, 2019 $ 0 Required 1A Required 1B Required 1C Required 2 Prepare the classified balance sheet at December 31, 2019. TYBALT CONSTRUCTION Balance Sheet December 31, 2019 $ 0 0 0 $ 0 0 $ 0 0 0 $ 0 Journal entry worksheet Record the entry to close income summary. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Journal entry worksheet 1 2 3 4 Record the entry to close the dividends account. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31