The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. TYBALT CONSTRUCTION Adjusted Trial Balance December 31 No. Account Title Debit Credit 101 Cash $ 6,000 184 Short-term investments 24,500 126 Supplies 9,480 128 Prepaid insurance 8,200 167 Equipment 45, eee 168 Accumulated depreciation-Equipment $ 22,500 173 Building 159,00 174 Accumulated depreciation-Building 53,000 183 Land 64,890 201 Accounts payable 16,000 203 Interest payable 2,900 288 Rent payable 3,789 210 Wages payable 2,988 213 Property taxes payable 800 236 Unearned revenue 7,789 244 Current portion of long-term note payable 6,500 251 Long-term notes payable 61,000 3e7 Common stock 6,000 318 Retained earnings 123,600 319 Dividends 12,200 484 Services revenue 104, 486 Rent revenue 15,000 407 Dividends revenue 2,100 409 Interest revenue 2,588 606 Depreciation expense-Building 11,660 612 Depreciation expense-Equipment 6,750 623 Wages expense 28,500 633 Interest expense 4,600 637 Insurance expense 9,200 640 Rent expense 11,200 652 Supplies expense 7,300 682 Postage expense 3,900 683 Property taxes expense 4,200 684 Repairs expense 6,900 688 Telephone expense 3,880 690 Utilities expense 3,800 Totals $430, 2ee $430,288 Oro Tybalt Invested $6,000 cash in the business in exchange for common stock during the year. The Retained Earnings account balance was $123,600 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. 10. Prepare the classified balance sheet at December 31. 2. Prepare the necessary closing entries at December 31 of the current year. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 10 Required 2 Prepare the income statement for the current year ended December 31. TYBALT CONSTRUCTION Income Statement For Year Ended December 31 Revenues Total revenues S 0 Expenses Total expenses 0 Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 10 Required 2 Prepare the statement of retained earnings for the current year ended December 31. TYBALT CONSTRUCTION Statement of Retained Earnings For Year Ended December 31 Retained earnings. Dec. 31 prior year end 0 Retained earnings. Dec. 31 current year end S 0 **** Required 1A Required 18 Required 10 Required 2 Prepare the classified balance sheet at December 31. TYBALT CONSTRUCTION Balance Sheet December 31 s 0 0 0 s 0 0 s 0 0 0 $ 0 Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 10 Required 2 Prepare the necessary closing entries at December 31 of the current year. View transaction list Journal entry worksheet