The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. Credit $ 22,500 60,000 YRAT CONSTRUCTION Adjustad Teal Balance December 31 Account Titis Debit 101 Cash $ 7,000 104 Short-term investments 24,000 126 Supplies 9,600 128 Prepaid insurance 8,000 167 Equipment 45,000 168 Accumulated depreciation Equipment 173 Building 180,000 174 Accumulated depreciation-Building 183 Land 47,250 201 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 236 Unearned revenue 244 Current portion of long-term note payable 251 Long-term notes payable 307 Common stock 318 Retained earnings 319 Dividends 12,900 404 Services revenue 406 Rent revenue 407 Dividends revenue 309 Interest revenue 606 Depreciation expense-Building 13,200 612 Depreciation expense Equipment 6,750 623 Wages expense 28,500 633 Interest expense 4,100 637 Insurance expense 5,800 640 Rent expense 13,000 652 Supplies expense 5,900 682 Postage expense 3.100 683 Property taxes expense 3.900 684 Repairs expense 6,300 1688 Telephone expense 22000 690 Utilities expense 4,500 Totala $431,900 16,000 2, 100 3,800 3,000 1,400 7,600 6,500 59,500 7,000 125,200 99,000 15,500 2,400 2.300 $933.0 Oro Tybait invested 57000 cash in the business in exchange for common stock during the yer balance was $125,200 on December 31 of the prior year Required: 1a. Prepare the income statement for the current year led December 31 1b. Prepare the statement of retained earnings for the current year ended December 31. Tc. Prepare the classified balance December 31 2. Prepare the necessary closing entries at December 31 of the current year Dec 31 Rent revenue Interest revenua Services revenue Dividends revenue Income summary 15,500 2,300 99,000 2.400 2 Dec 31 Income summary Depreciation expense-Building Depreciation expense-Equipment Weges expense Interest expense Insurance expense Rent expense Supplies expense Property taxes expense Postage expense Repairs expense Telephone expense Utilities expense 13.200 6.750 28,500 4,100 8,800 13,000 5.900 3.900 3.100 6,300 2.000 4,500 3 Dec 31 Income summary 4 Dec 31 Dividends