The adjusted trial balance of Eldrich Real Estate Appraisal at June 30 comma 2018 , follows: LOADING... (Click the icon to view the adjusted trial balance.) Read the requirements LOADING.... Requirement 1. Prepare the company's income statement for the year ended June 30 comma 2018. (If a box is not used in the statement, leave the box empty; do not select a label or enter a zero. Use a minus sign or parentheses to show a net loss.) Eldrich Real Estate Appraisal Income Statement Year Ended June 30, 2018 Revenues: Service Revenue $47,500 Expenses: Insurance Expense $4,000 Salaries Expense 34,000 Utilities Expense 2,200 Depreciation ExpenseBuilding 7,900 Interest Expense 8,900 Supplies Expense 500 Total Expenses 57,500 Net Income (Loss) $(10,000) Requirement 2. Prepare the company's statement of retained earnings for the year ended June 30 comma 2018. (Use a minus sign or parentheses to show a net loss.) Eldrich Real Estate Appraisal Statement of Retained Earnings Year Ended June 30, 2018 Retained Earnings, July 1, 2017 $37,000 Dividends (25,800) Net loss for the year (10,000) Retained Earnings, June 30, 2018 $1,200 Requirement 3. Prepare the company's classified balance sheet in report form at June 30 comma 2018. (If a box is not used in the balance sheet, leave the box empty; do not select a label or enter a zero.) Eldrich Real Estate Appraisal Balance Sheet June 30, 2018 Assets Current Assets: Cash $4,200 Accounts Receivable 4,500 Office Supplies 2,500 Prepaid Insurance 2,300 Total Current Assets $13,500 Property, Plant, and Equipment: Land 12,400 Building $79,000 Less: Accumulated DepreciationBuilding (25,300) 53,700 Total Property, Plant, and Equipment 66,100 Total Assets $79,600 Liabilities Current Liabilities: Accounts Payable $20,500 Interest Payable 8,900 Salaries Payable 2,700 Unearned Revenue 9,300 Total Current Liabilities $41,400 Long-term Liabilities: Notes Payable 36,000 Total Liabilities 77,400 Stockholders' Equity Common Stock 1,000 Retained Earnings 1,200 Total Stockholders' Equity 2,200 Total Liabilities and Stockholders' Equity $79,600 Requirement 4. Journalize the closing entries. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by closing revenues. Date Accounts and Explanation Debit Credit Jun. 30 Service Revenue 47,500 Clos. (1) Income Summary 47,500 To close revenue. Close expenses for the period. Date Accounts and Explanation Debit Credit Jun. 30 Income Summary 57,500 Clos. (2) Interest Expense 8,900 Insurance Expense 4,000 Supplies Expense 500 Utilities Expense 2,200 Salaries Expense 34,000 Depreciation ExpenseBuilding 7,900 To close expenses. Close Income Summary. Date Accounts and Explanation Debit Credit Jun. 30 Retained Earnings 10,000 Clos. (3) Income Summary 10,000 To close Income Summary. Close Dividends. Date Accounts and Explanation Debit Credit Jun. 30 Retained Earnings 25,800 Clos. (4) Dividends 25,800 To close Dividends. Requirement 5. T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the T-accounts. Use "Clos." and the corresponding number as shown in the journal entry as posting referenceslong dash "Clos.(1)", "Clos.(2)", etc. The adjusted balance of each account has been entered for you. Post any closing entries to the accounts and then calculate the post-closing balance ("Bal.") of each account (including those that were not closed). For any accounts with a zero balance after closing, enter a "0" on the normal side of the account. For Income Summary, calculate and enter the balance ("Bal.") before posting the entry to close out the account. Post the entry to close Income Summary account on the same line as you entered the balance prior to closing (the second line) and then show the post-closing balance ("Bal.") on the last (third) line of the account. Review the closing journal entries you prepared above. LOADING... Cash Accounts Payable Service Revenue Bal. 4,200 20,500 Bal. 47,500 Bal. Accounts Receivable Interest Payable Insurance Expense Bal. 4,500 8,900 Bal. Bal. 4,000 Office Supplies Salaries Payable Salaries Expense Bal. 2,500 2,700 Bal. Bal. 34,000 Prepaid Insurance Unearned Revenue Supplies Expense Bal. 2,300 9,300 Bal. Bal. 500 Land Notes Payable Interest Expense Bal. 12,400 36,000 Bal. Bal. 8,900 Building Common Stock Utilities Expense Bal. 79,000 1,000 Bal. Bal. 2,200 Accumulated Depr.Building Dividends Depreciation ExpenseBuilding 25,300 Bal. Bal. 25,800 Bal. 7,900 Retained Earnings 37,000 Bal. Income Summary

Eldrich Real Estate Appraisal,,, Adjusted Trial Balance,,, "June 30, 2018",,, ,,Balance, ,Account Title,Debit,Credit ,Cash,"$4,200", ,Accounts Receivable,"4,500", ,Office Supplies,"2,500", ,Prepaid Insurance,"2,300", ,Land,"12,400", ,Building,"79,000", ,Accumulated DepreciationBuilding,,"$25,300" ,Accounts Payable,,"20,500" ,Interest Payable,,"8,900" ,Salaries Payable,,"2,700" ,Unearned Revenue,,"9,300" ,Notes Payable (long-term),,"36,000" ,Common Stock,,"1,000" ,Retained Earnings,,"37,000" ,Dividends,"25,800", ,Service Revenue,,"47,500" ,Insurance Expense,"4,000", ,Salaries Expense,"34,000", ,Supplies Expense,500, ,Interest Expense,"8,900", ,Utilities Expense,"2,200", ,Depreciation ExpenseBuilding,"7,900", ,Total,"$188,200","$188,200"

Prepare the company's income statement for the year ended

June 30 comma 2018June 30, 2018.

2.

Prepare the company's statement of retained earnings for the year ended

June 30 comma 2018June 30, 2018.

3.

Prepare the company's classified balance sheet in report form at

June 30 comma 2018June 30, 2018.

4.

Journalize the closing entries.

5.

T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the T-accounts.

6.

Prepare the company's post-closing trial balance at

June 30 comma 2018June 30, 2018.