The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. Oro Tybalt invested $5,000 cash in the business during the year. The O. Tybalt, Capital account balance was $121,400 on December 31 of the prior year. No. 101 Cash. 126 Supplies. 128 Prepaid insurance. Adjusted Trial Balance December 31 Account Title Debit $ 5,000 31,100 7,000 Credit 167 Equipment. 40,000 168 173 Building. 174 183 Land. 201 Accumulated depreciation-Equipment. Accumulated depreciation-Building. Accounts payable. $20,000 150,000 50,000 $5,000 16.500 203 Interest payable... 2.500 208 Rent payable... 3,500 210 Wages payable. 2,500 213 Property taxes payable... 900 236 Unearned revenue. 14,500 251 Long term notes payable. 60,000 301 O. Tybalt, Capital. 126,400 302 O. Tybalt, Withdrawals. 13,000 403. Services revenue. 97,000 406 Rent revenue. 14,000 409 Interest revenue. 4,100 606 Depreciation expense-Building- 11,000 612 Depreciation expense-Equipment. 6,000 623 Wages expense. $2,900 633 Interest expense. 5,100 637 Insurance expense. 10,000 640 Rent expense. 13,400 652 Supplies expense. 7,400 683 Property taxes expense. 5,000 Totals. 5411,900 $411,900 Required 1. Prepare the income statement and the statement of owner's equity for the current year ended December 31, and the classified balance sheet at December 31. CHECK FIGURES: 1. Total assets =$218,100; Net income =$4,300 2. Prepare the necessary closing entries at December 31 of the current year.