The adjusted trial balance of Karise Repairs on December 31, 2015, follows. KARISE REPAIRS Adjusted Trial Balance December 31, 2015 No. Account Title Debit Credit 101 Cash $ 16,000 124 Office supplies 2,000 128 Prepaid insurance 2,750 167 Equipment 52,000 168 Accumulated depreciationEquipment $ 5,200 201 Accounts payable 15,500 210 Wages payable 1,100 301 C. Karise, Capital 39,000 302 C. Karise, Withdrawals 15,500 401 Repair fees earned 98,650 612 Depreciation expenseEquipment 5,200 623 Wages expense 45,000 637 Insurance expense 700 640 Rent expense 13,000 650 Office supplies expense 4,200 690 Utilities expense 3,100 Totals $ 159,450 $ 159,450 Assume there are no owner investments in 2015. Required: 1.1 Prepare an income statement for the year 2015. 1.2 Prepare a statement of owner's equity for the year 2015. 1.3 Prepare a classified balance sheet at December 31, 2015. 3. Using the closing entry information you entered in the six-column table above, prepare the appropriate closing journal entries.