The adjusted trial balance

is for Salah Construction Company as of December $31,2020.$ The January $1,2020$ credit balance for the Owner's Capital account was $46,900$; and the owner invested $$40,000$ cash in the Company during the $2020$ year. Prepare the income statement and the statement of owner's equity for the year ended December $31,2020$ and the classified balance sheet at December $31,2020\mathrm{.}2.$ Using the information journalize the closing entries