The adjusted trial balance of Karise Repairs on December 31 follows KARISE REPAIRS Adjusted Trial Balance December 31 No. Account Title Debit $115,000 1,300 2,950 60,000 Credit 101 Cash 124 office supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 201 Accounts payable 210 Wages payable 301 C. Karise, Capital 302 C. Karise, Withdrawals 401 Repair fees earned 612 Depreciation expense-Equipment 623 Wages expense 637 Insurance expense 640 Rent expense 650 office supplies expense 690 Utilities expense $ 6,00e 13,50e 1,300 35,000 16,50e 209,850 6,000 41,000 1,200 14,500 4,100 3,100 Totals $265,650 $265,650 Note: C. Karise, Capital was $35,000 on December 31 of the prior year Note: C. Karise, Capital was $35,000 on December 31 of the prior 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 Complete the work sheet using the adjusted trial balance in the first two columns of a six-column table. Use columns three and four for closing entry information and the last two columns for a post-closing trial balance 3. Using information from the work sheet in Requirement 2, prepare the appropriate closing entries