The adjusted trial balance for Tybalt Construction as of December 31, 2019, follows. Credit $ Debit 6,500 23,000 8,800 7,300 50,000 $ 25,000 168,000 56,000 69,780 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2019 No. Account Title 101 Cash 104 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 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 301 o. Tybalt, Capital 302 0. Tybalt, Withdrawals 401 Professional fees earned 406 Rent earned 407 Dividends earned 409 Interest earned 606 Depreciation expense-Building 612 Depreciation expense-Equipment 623 Wages expense 633 Interest expense 637 Insurance expense 640 Rent expense 652 Supplies expense 682 Postage expense 683 Property taxes expense 684 Repairs expense 688 Telephone expense 690 Utilities expense Totals 17,500 2,800 3,900 2,800 900 7,700 8,000 58,500 133,300 11,800 102,000 16,000 2,900 2,900 12,320 7,500 25,500 3, 100 7,100 11,200 7,200 3,900 3,300 8,800 1,600 3,500 $440,200 $ 440,200 TYBALT CONSTRUCTION Income Statement For Year Ended December 31, 2019 Revenues $ $ 0 Total revenues Expenses Total expenses 0 UUDIM WUJU Uuriy yi- account was $126,800). Required: Ma. Prepare the income statement for the calendar year 2019. b. Prepare the statement of owner's equity for the calendar year 2019. c. Prepare the classified balance sheet at December 31, 2019. 2. Prepare the necessary closing entries at December 31, 2019. 3. Use the information in the financial statements to compute the following rat Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Required 2 Required 3 Prepare the statement of owner's equity for the calendar year 2019. TYBALT CONSTRUCTION Statement of Owner's Equity For Year Ended December 31, 2019 O.Tybalt, Capital, Dec. 31, 2018 0 0 O.Tybalt, Capital, Dec. 31, 2019 $ 0 Dashboard Connect + ation.com/ext/map/index.html?_con=con&external_browser=0&launchurl=https%253A%252F%252Fims ns Saved Journal entry worksheet 1 2 3 4 Record the entry to close expense account(s). Note: Enter debits before credits General Journal Debit Credit Date Dec 31 + Record entry Clear entry View general journal cation.com/ext/map/index.html?_con=con&external browser=0&launchurl=https%253A%252F%252 ms Saved View transaction list Journal entry worksheet ation.com/ext/map/index.html?_con=con&external_browser=0&launchurl=https%253A%252F%252Fim ns Saved View transaction list Journal entry worksheet 1 2 3 4 Record the entry to close the withdrawals account. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal KUALET rowserdlaunchurahttps%253A%252F%252 oblems Saved Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 Required 2 Required 3 Use the information in the financial statements to compute the following ratios: (a) Return on assets (total assets at December 31, 2018, was $200,000) Numerator: 1 Denominator: Return on total assets 1 star on total assets (b) Debt ratio Numerator: 1 Denominator: Debt ratio 1 Debt ratio 0 E (c) Profit margin ratio (use total revenues as the denominator) Numerator: 1 Denominator: Profit margin 1 Profit margin 0 % (d) Current ratio Numerator: 1 Denominator: Current ratio 1 Current ratio 0 =