The December 31, 2014 credit balance of the retainer earnings account was $121,400. Tybalt construction is required to make a $7000 payment on his long term notes payable during 2016. Required one. Prepare the income statement and statement of retained earnings for the calendar year 2015 and the classified balance sheet at December 31, 2015. Two. Prepare the necessary closing entries at December 31, 2015.

ries and 10. Common stock 11 Unearned services revenue e adjusted trial balance for Tbalt Construction as of Decemb TYBALT Adjusted Trial Balance December 31, 2015 Account Title No. Cash 104 Short-term investments Supplies 26 128 Prepaid insurance 67 Equipment Equipment 168 Accumulated depreciation 173 Building depreciation-Building 174 Accumulated Land 83 20 Accounts payable 203 Interest payable 208 Rent payable 210 Wages payable 213 Property taxes payable 233 Unearned professional fees 25 Long-term notes payable 307 Common stock 318 Retained earnings 319 Dividends 40 Professional fees earned 406 Rent earned 407 Dividends earned 409 Interest earned 606 Depreciation expense-Building 612 Depreciation expense-Equipment 623 Wages expense 633 nterest expense 637 Insurance expense 640 Rent expense 652 Supplies expense 682 Postage expense 683 Property taxes expense 684 Repairs expense 688 Telephone expense 690 Utilities expense Totals Debit 5,000 23.000 8,100 7,000 40.000 20 50,000 50,000 55,000 6,500 2500 3,500 2,500 900 7,500 67,000 5,000 21,400 3,000 97,000 4,000 2,000 2,100 000 6,000 32,000 5,100 0,000 3,400 7,400 4,200 5,000 8,900 3,200 4,600 $41l,900 $4ll900 Natsu accou conce