The adjusted trial balance of Karlse Repairs on December 31 follows. KARISE REPAIRS Adjusted Trial Balance December 31 Number 101 Account Title Cash Debit $ 63,000 Credit 124 Office supplies 1,000 128 Prepaid insurance 2,900 167 168 201 210 Equipment Accumulated depreciation-Equipment Accounts payable Wages payable 54,000 $ 5,400 12,500 1,000 301 C. Karise, Capital 33,000 302 C. Karise, Withdrawals 17,500 403 Services revenue 150,000 612 Depreciation expense-Equipment 5,400 623 Wages expense 35,000 637 Insurance expense 700 640 Rent expense 16,000 650 Office supplies expense 690 Utilities expense Totals 3,500 2,900 $ 201,900 $ 201,900 Note: C. Karise, Capital account balance was $33,000 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.