The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. Credit wed Debit $ 5,000 31,100 7,000 40,000 $ 20,000 150,000 Dok 50,000 55,000 rint TYBALT CONSTRUCTION Adjusted Trial Balance December 31 Number Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 236 Unearned revenue 251 Long-term notes payable 307 Common stock 318 Retained earnings 319 Dividends 403 Services revenue 406 Rent revenue 409 Interest revenue 606 Depreciation expense-Building 612 Depreciation expense-Equipment Wages expense Interest expense 637 Insurance expense 640 Rent expense 652 Supplies expense 683 Property taxes expense Totals 16,500 2,500 3,500 2,500 900 14,500 60,000 15,000 111,400 erences 13,000 97,000 14,000 4,100 623 633 11,000 6,000 52,900 5,100 10,000 13,400 7,400 5,000 $ 411,900 $ 411,900 The Retained Earnings account balance was $111,400 on December 31 of the prior year. nces 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. Required 1A Required 1B Required 1C 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 $ 0 Expenses rices Total expenses 0 ROGU 1 Required 18 > aw 11 Prepare the classified balance sheet at December 31 of the current year. TYBALT CONSTRUCTION Balance Sheet December 31 $ 0 ces 0 0 $ 0 0