The adjusted trial balance of Karise Repairs on December 31 follows. Note. C. Karise, Capital account balance was $32,000 on December 31 of the prior year, and there were no owner investments during the year. Required: 1a. Prepare an income statement for the year. 16. Prepare a statement of owner's equity for the year. 1c. Prepare a classified balance sheet at December 31, 2. Prepare the December 31 closing entries. Note: C. Karise, Capital account balance was $32,000 on December 31 of the prior year, and there were no owner investments during the year. Required: 1a. Prepare an income statement for the year, 1b. Prepare a statement of owner's equity for the year. 1c. Prepare a classified balance sheet at December 31. 2. Prepare the December 31 closing entries. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year