The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. TYBALT CONSTRUCTION Adjusted Trial Balance December 31 Number 101 Account Title Debit Credit Cash $ 6,000 126 Supplies 32,100 128 Prepaid insurance 8,000 167 Equipment 55,000 168 Accumulated depreciation-Equipment $ 27,500 173 Building 162,000 174 Accumulated depreciation-Building 54,000 183 Land 68,370 201 Accounts payable 17,000 203 Interest payable 2,200 208 Rent payable 3,000 210 Wages payable 2,600 213 Property taxes payable 800 236 Unearned revenue 15,800 251 Long-term notes payable 62,000 301 O. Tybalt, Capital 130,100 302 0. Tybalt, Withdrawals 11,400 404 Services revenue 105,000 406 Rent revenue 409 Interest revenue 16,500 5,400 606 Depreciation expense-Building 11,880 612 Depreciation expense-Equipment 8,250 623 Wages expense 43,400 633 Interest expense 4,900 637 Insurance expense 9,200 640 Rent expense 11,600 652 Supplies expense 5,300 683 Property taxes expense Totals 4,500 $ 441,900 $ 441,900 Oro Tybalt invested $6,000 cash in the business during the year. The O. Tybalt, Capital account balance was $124,100 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 owner's equity 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.