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

KARISE REPAIRS Adjusted Trial Balance December 31 No.Account TitleDebit Credit101Cash$59,000 124Office supplies 1,500 128Prepaid insurance 2,600 167Equipment 53,000 168Accumulated depreciationEquipment $5,300 201Accounts payable 16,000 210Wages payable 500 301C. Karise, Capital 39,000 302C. Karise, Withdrawals 19,500 401Repair fees earned 140,000 612Depreciation expenseEquipment 5,300 623Wages expense 41,000 637Insurance expense 1,400 640Rent expense 10,500 650Office supplies expense 4,000 690Utilities expense 3,000 Totals$200,800 $200,800

Note: C. Karise, Capital was $39,000 on December 31 of the prior 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. 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.

Prepare a classified balance sheet at December 31 . 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 nformation and the last two columns for a post-closing trial balance. Complete this question by entering your answers in the tabs below. Prepare a statement of owner's equity for the year. Ising information from the work sheet in Requirement 2, prepare the appropriate closing entries Journal entry worksheet 4 Record the entry to close revenue account(s). Note: Enter debits before credits. Prepare an income statement for the year