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The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. TYBALT CONSTRUCTION Adjusted Trial Balance December 31 Number Account

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The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. TYBALT CONSTRUCTION Adjusted Trial Balance December 31 Number Account Title Debit Credit 101 Cash $ 7,500 126 Supplies 32,700 128 Prepaid insurance 7,300 167 Equipment 50,000 168 Accumulated depreciation-Equipment $ 25,000 173 Building 150,000 174 Accumulated depreciation-Building 50,000 183 Land 66,800 201 Accounts payable 16,000 203 Interest payable 2,800 208 Rent payable 3,100 210 Wages payable 2,200 213 Property taxes payable 1,300 236 Unearned revenue 13,800 251 Long-term notes payable. 59,000 301 0. Tybalt, Capital 132,000 302 404 0. Tybalt, withdrawals 11,200 Services revenue 100,000 406 Rent revenue 17,500 409 Interest revenue 4,300 606 Depreciation expense-Building 11,000 612 Depreciation expense-Equipment 7,500 623 Wages expense 46,700 633 Interest expense 3,400 637 Insurance expense 9,200 640 Rent expense 12,000 652 683 Supplies expense 6,800 Property taxes expense 4,900 Totals $ 427,000 $ 427,000 Oro Tybalt invested $7,500 cash in the business during the year. The O. Tybalt, Capital account bala 31 of the prior year. Required: 1a. Prepare the income statement for the current year ended December 31. 1b. Prepare the statement of owner's equity for the current year ended December 31. 1c. Prepare the classified balance sheet at December 31 of the current year.

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