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 $ 5,500 126 Supplies 33,000 128 Prepaid insurance 7,900 167 Equipment 45,000 168 Accumulated depreciation-Equipment $ 22,500 173 Building 168,000 174 Accumulated depreciation-Building 56,000 183 Land 58,530 201 Accounts payable 15,500 203. Interest payable 2,700 208 Rent payable 3,100 210 Wages payable 2,800 213 Property taxes payable 1,000 236 Unearned revenue 16,100 251 Long-term notes payable 59,000 307 Common stock 5,500 318 Retained earnings 121,200 319 Dividends 11,200 403 Services revenue 100,000 406 Rent revenue 15,500 409 Interest revenue 4,600 606 Depreciation expense-Building 12,320 612 Depreciation expense-Equipment 6,750 623 Wages expense 43,300 633 Interest expense 3,600 637 Insurance expense 8,500 640 Rent expense 11,700 652 Supplies expense 6,600 683 3,600 $ 425,500 $ 425,500 Property taxes expense Totals The Retained Earnings account balance was $121,200 on December 31 of the prior year. Required: 1a. Prepare the income statement for the current year ended December 31. 1b. Prepare the statement of retained earnings for the current year ended December 31. 1c. Prepare the classified balance sheet at December 31 of the current year. 2. Prepare the necessary closing entries at December 31 of the current year.