The adyuted this bsiance for Tyball Construction on December $31$ of the current year follows.

of the prior year

Required:

$1$a$.$ Prepare the income statement for the current year ended becemien its

$1$c$.$ Prepare the claswified balance sheet bl December $31$ of the cumem ywin

Prepare the necesany closing entries at Docember $31$ at the cufrem yem

Complete thie question by estering veur anewers in the tibhe bestess

Required iA

Requared if

Requiren ic

Requireal :

Preparn the Encome clatement for the curvent year eniles Desember $34$

The adjusted trial balance for Tybalt Construction on December $31$ of the current year follows.

$\backslash$table$[[\backslash$table$[[$TYBALT CONSTRUCTION$],[$Adjusted Trial Balance$],[$December $31]]],[$Number$,$Account Title,Debit,Credit$],[101,$Cash,$ $7,000,],[126,$Supplies,$31,400,],[128,$Prepaid insurance,$7,000,],[167,$Equipment,$50,000,],[168,$Accumulated depreciation$-$Equipment,$50,000,],[173,$Building,,$ $25,000],[174,$Accumulated depreciation$-$Building,$153,000,],[183,$Land,,$51,000],[201,$Accounts payable,$65,080,],[203,$Interest payable,,$15,500],[208,$Rent payable,,$2,100],[210,$Wages payable,,$3,400],[213,$Property taxes payable,,$2,900],[236,$Unearned revenue,,$1,400],[251,,,15,100],[301,0.$ Tybalt, Capital,,$58,500],[302,0.$ Tybalt, Withdrawals,,$131,500],[404,$Services revenue,$10,300,],[406,$Rent revenue,,$99,000],[409,$Interest revenue,,$17,500],[606,$Depreciation expense$-$Building,,$4,900],[612,$Depreciation expense$-$Equipment,$*11,220,],[623,$Wages expense,$7,500,],[633,$Interest expense,$50,300,],[637,$Insurance expense,$3,200,],[640,$Rent expense,$9,900,],[652,$Supplies expense,$11,100,],[683,$Property taxes expense,$6,400,],[,$Property taxes expense,$4,400,],[,$Totals,$ $427,800,$$ $427,800]]$

Oro Tybalt invested $$7,000$ cash in the business during the year. The O$.$ Tybalt, Capital account balance was $$124,500$ on December $31$ of the prior year.

Required:

$1$a$.$ Prepare the income statement for the current year ended December $31.$

$1$b$.$ Prepare the statement of owner's equity for the current year ended December $31.$

$1$c$.$ Prepare the classified balance sheet at December $31$ of the current year.

$2.$ Prepare the necessary closing entries at December $31$ of the current year.