The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. Number Account Title 101 Cash 126 128 Supplies Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 183 201 203 208 210 213 236 251 301 302 404 406 409 606 612 623 633 637 640 652 683 TYBALT CONSTRUCTION Adjusted Trial Balance December 31 Land Accounts payable Interest payable Rent payable Wages payable Property taxes payable Unearned revenue Long-term notes payable 0. Tybalt, Capital 0. Tybalt, Withdrawals Services revenue Rent revenue Interest revenue Depreciation expense-Building Depreciation expense-Equipment Wages expense Interest expense Insurance expense Rent expense Supplies expense Property taxes expense Totals Debit $ 7,500 31,700 9,000 60,000 159,000 62,340 11,600 11,660 9,000 46,600 Credit $ 30,000 53,000 18,000 2,000 3,400 2,400 1,400 15,700 62,000 134,300 100,000 15,500 4,300 4,200 8,400 10,700 7,200 3,100 $ 442,000 $ 442,000 Oro Tybalt invested $7,500 cash in the business during the year. The O. Tybalt, Capital account balan was 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. 5,800 on December

Complete this question by entering your answers in the tabs below. Prepare the income statement for the current year ended December 31. The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. Oro Tybalt invested $7,500 cash in the business during the year. The O. Tybalt, Capital account balance was $126,800 on December 31 of the prior year. Required: 1. 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. Prepare the statement of owner's equity for the current year ended December 31 . Required: 1a. Prepare the income statement for the current year ended December 31. tb. Prepare the statement of owner's equity for the current year ended December 31. ic. 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. Complete this question by entering your answers in the tabs below. Prepare the classified balance sheet at December 31 of the current year