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

KARISE REPAIRS
Adjusted Trial Balance
December 31
Number	Account Title	Debit	Credit
101	Cash	$ 130,000
124	Office supplies	1,900
128	Prepaid insurance	2,100
167	Equipment	57,000
168	Accumulated depreciationEquipment		$ 5,700
201	Accounts payable		12,000
210	Wages payable		700
301	C. Karise, Capital		30,000
302	C. Karise, Withdrawals	15,500
403	Services revenue		226,300
612	Depreciation expenseEquipment	5,700
623	Wages expense	44,000
637	Insurance expense	1,000
640	Rent expense	10,500
650	Office supplies expense	4,300
690	Utilities expense	2,700
	Totals	$ 274,700	$ 274,700

Note: C. Karise, Capital account balance was $30,000 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.