The adjusted trial balance of Karise Repairs on December 31 follows. Credit Debit $123,000 1,800 2,250 52,000 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 2 301 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 $ 5,200 13,500 700 31,000 301 wages payable 15,500 207,550 5, 200 37,000 600 12,500 4,200 3,900 $257,950 $257,950 Note: C. Karise, Capital was $31,000 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. KARISE REPAIRS Balance Sheet December 31 0 0 0