The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. Credit Debit $ 5,000 23,000 8,100 7,000 40,000 $ 20,000 150,000 50,000 55,000 TYBALT CONSTRUCTION Adjusted Trial Balance December 31 No. Account Title 101 Cash 104 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation Equipment 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 244 Current portion of long-term note payable 251 Long-term notes payable 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 406 Rent revenue 407 Dividends revenue 499 Interest revenue 606 Depreciation expense-Building 612 Depreciation expense-Equipment 623 Wages expense 633 Interest expense 637 Insurance expense 640 Rent expense 652 Supplies expense 682 Postage expense 683 Property taxes expense 684 Repairs expense 688 Telephone expense 690 Utilities expense Totals 16,500 2,500 3,500 2,500 900 7,500 7,000 60,000 5,000 121,400 97,000 14,000 2,000 2,100 13,000 11,000 6,000 32,000 5,100 10,000 13,400 7.4ee 4,200 5,000 8,900 3,200 4.600 $411.900 $411,900 Oro Tybalt invested $5,000 cash in the business in exchange for common stock during the year. The Retained Earings account balance was $121,400 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 2. Prepare the necessary closing entries at December 31 of the current year antavine vour answers in the tabs below. 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 0 Total revenues Expenses Total expenses Required 18 > Required 1A STREET Required 1B 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 $ 0 Retained earnings, Dec. 31 current year end Prepare the classified balance sheet at December 31. TYBALT CONSTRUCTION Balance Sheet December 31 $ 0 0 $ 0 0 + 5 Journal entry worksheet