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 $ 8,000 126 Supplies 30,300 128 Prepaid insurance 7,400 167 Equipment 40,000 168 Accumulated depreciationEquipment $ 20,000 173 Building 156,000 174 Accumulated depreciationBuilding 52,000 183 Land 78,060 201 Accounts payable 17,000 203 Interest payable 2,100 208 Rent payable 3,500 210 Wages payable 2,000 213 Property taxes payable 1,200 236 Unearned revenue 15,500 251 Long-term notes payable 62,000 301 O. Tybalt, Capital 133,300 302 O. Tybalt, Withdrawals 10,600 404 Services revenue 100,000 406 Rent revenue 15,500 409 Interest revenue 4,500 606 Depreciation expenseBuilding 11,440 612 Depreciation expenseEquipment 6,000 623 Wages expense 45,400 633 Interest expense 3,600 637 Insurance expense 9,800 640 Rent expense 12,000 652 Supplies expense 6,400 683 Property taxes expense 3,600 Totals $ 428,600 $ 428,600 Oro Tybalt invested $8,000 cash in the business during the year. The O. Tybalt, Capital account balance was $125,300 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 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