The adjusted trial balance for Tybalt Construction on December 31 of the current year follows.

TYBALT CONSTRUCTION
Adjusted Trial Balance
December 31
Number	Account Title	Debit	Credit
101	Cash	$ 6,000
126	Supplies	30,000
128	Prepaid insurance	7,400
167	Equipment	50,000
168	Accumulated depreciationEquipment		$ 25,000
173	Building	180,000
174	Accumulated depreciationBuilding		60,000
183	Land	56,400
201	Accounts payable		16,000
203	Interest payable		2,500
208	Rent payable		3,400
210	Wages payable		2,400
213	Property taxes payable		1,300
236	Unearned revenue		15,800
251	Long-term notes payable		60,000
307	Common stock		6,000
318	Retained earnings		125,100
319	Dividends	12,400
403	Services revenue		103,000
406	Rent revenue		16,000
409	Interest revenue		4,900
606	Depreciation expenseBuilding	13,200
612	Depreciation expenseEquipment	7,500
623	Wages expense	44,900
633	Interest expense	4,000
637	Insurance expense	9,100
640	Rent expense	10,600
652	Supplies expense	5,100
683	Property taxes expense	4,800
	Totals	$ 441,400	$ 441,400

The Retained Earnings account balance was $125,100 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 of the current year.

2. Prepare the necessary closing entries at December 31 of the current year.