The balances in the ledger of Landscape Services as of December 31, 2007 before adjustments, are as follows: Cash $ 4,500 Tim Welch, Capital $33,050 Supplies 4,150 Tim Welch, Drawing 2,900 Prepaid Insurance 8,700 Service Revenue 52,500 Equipment 42,000 Salary Expense 26,600 Accumulated Rent Expense 5,000 Depreciation 10,200 Miscellaneous Expense 1,900 Adjustment data are as follows: supplies on hand, December 31, $1,000; insurance expired for December, $900; depreciation on equipment for December, $1,500; salaries accrued, December 31, $1,000. (a) Prepare a ten-column work sheet for Landscape Services for December, 2007. (b) On the basis of the work sheet in (a), present the following in good order: (1) income statement, (2) statement of owner's equity (no additional investments were made during the month), and (3) balance sheet. (c) On the basis of the work sheet in (a), journalize the closing entries as of December 31, 2007.