The adjusted trial balance for Tybalt Construction as of December 31, 2017, follows. No. Credit $ Debit 6,000 23,500 8,300 8,700 60,000 $ 30,000 153,000 51,000 62,780 TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2017 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 251 Long-term notes payable 307 Common stock 318 Retained earnings ,319 Dividends 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 16,500 2,800 3,500 2,900 800 7,500 66,500 6,000 126,800 100 101,000 15,000 2,200 2,500 11, 220 9,000 31,500 3,800 9,500 11,800 5,200 3,300 3,100 8,100 1,900 3,200 $435,000 $435,000 The December 31, 2016, credit balance of the Retained Earnings account was $126,800. 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, Tb. Prepare the statement of retained earnings 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: Prepare the income statement for the calendar year 2017. TYBALT CONSTRUCTION Income Statement For Year Ended December 31, 2017 Revenues Total revenues Expenses Total expenses 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 retained earnings for the calendar year 2017 TYBALT CONSTRUCTION Statement of Retained Earnings For Year Ended December 31, 2017 Retained earnings, Dec 31, 2016 Retained earnings, Dec 31, 2017 $ Prepare the classified balance sheet at December 31, 2017 TYBALT CONSTRUCTION Balance Sheet December 31, 2017 134,780 $ 134,780 134,780 Journal entry worksheet Prepare the necessary dosing entries at December 31, 2017. View transaction list Journal entry worksheet Record the entry to close expense account(s). Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Prepare the necessary closing entries at December 31, 2017. View transaction list Journal entry worksheet