The adjusted trial balance of Karise Repairs on December 31 follows. Credit Debit $118,000 1,700 2,200 60,000 KARISE REPAIRS Adjusted Trial Balance December 31 No. Account Title 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 Totals $ 6,000 12,500 1,200 30,000 19,000 218,600 6,000 38,000 1,200 15,000 4,200 3,000 $268,300 $268,300 Note: C. Karise, Capital was $30,000 on December 31 of the prior year. D.... 1 of 1 Next Algorithmic Savec Help Save & Exit Submit Check my work 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. Complete this question by entering your answers in the tabs below. Required 3 Required 2 Required 10 Required 1A Required 1B Using information from the work sheet in Requirement 2, prepare the appropriate closing entries. View transaction list Journal entry worksheet 3 4 1 2 Next Prev 1 of 1 9 w . --- Prepare an income statement for the year. KARISE REPAIRS Income Statement For Year Ended December 31 Revenues Expenses Total expenses 1 of 1 Nex W Javed Required 1A Required 15 | Required 10 Required 2 Required 3 Prepare a statement of owner's equity for the year. KARISE REPAIRS Statement of Owner's Equity For Year Ended December 31 C. Karise, Capital, Dec. 31 prior year end C. Karise, Capital, Dec. 31 current year end + Prev 1 of 1 Next W Help Save & Exit Submit Check my work Entry Information Trial Balance Dr. Cr No. Account Title Trial Balance Dr Cr DI Cr. $ 118,000 4.700 2,200 60.000 $ 6,000 12.500 1,200 30,000 101 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 an1 linnmo cummani 19 000 218 600 6,000 38,000 1.200 15 000 4200 13,000 PreM Nex 1 of 1 w 30,000 218,600 C. Kanse, 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 6,000 38,000 1,200 15,000 4.200 3,000 901 Income summary Total $ 268,300 $ 268,300 Prev 1 of 1 HE Next w Journal entry worksheet 1 2 3 4 Record the entry to close revenue account(s). Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Prev 1 of 1 Next W