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 $ 7,000 126 Supplies 33,700 128 Prepaid insurance 7,500 167 Equipment 50,000 168 Accumulated depreciation-Equipment $ 25,000 173 Building 162,000 174 Accumulated depreciation-Building 54,000 183 Land 64,220 201 Accounts payable 17,500 203 Interest payable 2,100 208 Rent payable 3,400 210 Wages payable 2,600 213 Property taxes payable 1,100 236 Unearned revenue 13,600 251 Long-term notes payable 63,000 307 Common stock 7,000 318 Retained earnings 124,300 319 Dividends 12,700 403 Services revenue 104,000 406 Rent revenue 17,000 409 Interest revenue 5,300 606 Depreciation expense-Building 11,880 612 Depreciation expense-Equipment 7,500 623 Wages expense 47,600 633 Interest expense 3,800 637 Insurance expense 9,900 640 Rent expense 13,200 652 Supplies expense 5,100 683 Property taxes expense 3,800 Totals $ 439,900 $ 439,900 The Retained Earnings account balance was $124,300 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.