The adjusted trial balance of Karise Repairs on December 31 follows. KARISE REPAIRS Adjusted Trial Balance December 31 Number Account Title 101 Cash 124 Office supplies 128 Prepaid insurance 167 168 201 Equipment Accumulated depreciation-Equipment Accounts payable 210 Wages payable 307 Common stock 318 Retained earnings 319 Dividends 403 612 Services revenue Depreciation expense-Equipment 623 Wages expense 637 Insurance expense 640 Rent expense 650 Office supplies expense 690 Utilities expense Debit Credit $ 124,000 1,900 2,300 53,000 $ 5,300 14,000 900 13,000 35,000 15,500 188,000 5,300 35,000 900 10,500 3,600 4,200 $ 256,200 $ 256,200 Totals Note: Retained Earnings account balance was $35,000 on December 31 of the prior year Required: 1a. Prepare an income statement for the year. 1b. Prepare a statement of retained earnings 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