The adjusted trial balance for Wildhorse Fishing Centre is as follows:

WILDHORSE FISHING CENTRE Adjusted Trial Balance March 31, 2021
	Debit		Credit
Cash	$7,500
Interest receivable	750
Supplies	1,500
Long-term investments	31,000
Land	46,000
Building	175,000
Accumulated depreciationbuilding			$32,000
Equipment	37,000
Accumulated depreciationequipment			18,500
Accounts payable			6,500
Interest payable			1,000
Unearned revenue			2,180
Notes payable ($6,000 must be paid in February, 2022)			65,000
R. Falkner, capital			150,220
R. Falkner, drawings	45,000
Service revenue			124,400
Interest revenue			1,500
Depreciation expense	9,900
Interest expense	3,850
Insurance expense	4,500
Salaries expense	28,500
Supplies expense	5,400
Utilities expense	5,400
	$401,300		$401,300

Prepare an income statement for the year ended March 31, 2021. WILDHORSE FISHING CENTRE Income Statement $ $ $ Question Part Score--/12 Prepare a statement of owner's equity. The owner, Rachael Falkner, invested $2,200 cash in the business during the year. (Note: The investment has been recorded and it is included in the capital account.) (List items that increase owner's equity first.) WILDHORSE FISHING CENTRE Statement of Owner's Equity $ : $ : $ Question Part Score--/5 Prepare a classified balance sheet. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) WILDHORSE FISHING CENTRE Balance Sheet Assets $ $ $ : : $ Liabilities and Owner's Equity $ $ Question Part Score--/24 Prepare closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 31 (To close revenue accounts) Mar. 31 (To close expense accounts) Mar. 31 (To close profit to capital) Mar. 31 (To close drawings account) Question Part Score--/8 Use T accounts to post the closing entries and calculate the balance in each account. (Ignore the accounts not affected by the closing entries.) (For balances ending in 0 select bal for the date and 0 for the amount for the normal balance of the account.) Income Summary R. Falkner, Capital R. Falkner, Drawings Service Revenue Interest Revenue Depreciation Expense Insurance Expense Interest Expense Salaries Expense Supplies Expense Utilities Expense Question Part Score--/8 Prepare a post-closing trial balance and compare the balance in the R. Falkner, Capital account with the information in the statement of owners equity. (List only those accounts that have an ending balance.) WILDHORSE FISHING CENTRE Post-Closing Trial Balance Debit Credit $ $ Totals $ $.