The adjusted trial balance for Tybalt Construction as of December 31, 2013, follows.

TYBALT CONSTRUCTION Adjusted Trial Balance December 31, 2013
No.	Account Title	Debit				Credit
101	Cash		$	6,000
104	Short-term investments			24,000
126	Supplies			9,500
128	Prepaid insurance			8,600
167	Equipment			55,000
168	Accumulated depreciationEquipment						$	27,500
173	Building			180,000
174	Accumulated depreciationBuilding							60,000
183	Land			50,650
201	Accounts payable							16,500
203	Interest payable							2,200
208	Rent payable							3,500
210	Wages payable							2,800
213	Property taxes payable							1,200
233	Unearned professional fees							7,100
251	Long-term notes payable							68,000
301	O. Tybalt, Capital							129,800
302	O. Tybalt, Withdrawals			10,300
401	Professional fees earned							104,000
406	Rent earned							16,000
407	Dividends earned							2,900
409	Interest earned							2,500
606	Depreciation expenseBuilding			13,200
612	Depreciation expenseEquipment			8,250
623	Wages expense			29,500
633	Interest expense			4,000
637	Insurance expense			9,800
640	Rent expense			11,100
652	Supplies expense			6,600
682	Postage expense			2,000
683	Property taxes expense			3,200
684	Repairs expense			6,500
688	Telephone expense			2,400
690	Utilities expense			3,400
	Totals		$	444,000			$	444,000

O. Tybalt invested $6,000 cash in the business during year 2013 (the December 31, 2012, credit balance of the O. Tybalt, Capital account was $123,800). Tybalt Construction is required to make a $9,000 payment on its long-term notes payable during 2014.

Prepare the necessary closing entries at December 31, 2013.

Closing entries (all dated December 31, 2013):

	Use the information in the financial statements to compute the following ratios: