The adjusted trial balance of Karise Repairs on December 31 follows.

Note: C. Karise, Capital account balance was $36,000 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.

Prepare an income statement for the year. Prepare a statement of owner's equity for the year. Journal entry worksheet Record the entry to close the revenue account(s). Note: Enter debits before credits. Record the entry to close the expense account(s). Note: Enter debits before credits. Record the entry to close the Income summary account. Note: Enter debits before credits. Record the entry to close the withdrawals account. Note: Enter debits before credits