The December 31, 2021, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2021) follows. Number Account Title Debit Credit 101 Cash $ 48,372 106 Accounts receivable 5,668 126 Computer supplies 580 128 Prepaid insurance 1,665 131 Prepaid rent 825 163 office equipment 8,000 164 Accumulated depreciation-office equipment $ 400 167 Computer equipment 20,000 168 Accumulated depreciation-Computer equipment 1,250 201 Accounts payable 1,100 210 Wages payable 500 236 Unearned computer services revenue 1,500 301 S. Rey, Capital 73,000 302 S. Rey, Withdrawals 7,100 403 Computer services revenue 31,284 612 Depreciation expense-office equipment 400 613 Depreciation expense-Computer equipment 1,250 623 Wages expense 3,875 637 Insurance expense 555 640 Rent expense 2,425 652 Computer supplies expense 3,065 Advertising expense 2,753 676 Mileage expense 896 677 Miscellaneous expenses 250 684 Repairs expense-Computer 1,305 901 Income summary Totals 109,034 $ 109,034 655 Required: 1. Prepare an income statement for the three months ended December 31, 2021. 2. Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint. The S. Rey, Capital account balance was $0 on October 1, and owner investments were $73,000 this period. 3. Prepare a classified balance sheet as of December 31, 2021. 4. Record the closing entries as of December 31, 2021. 5. Prepare a post-closing trial balance as of December 31, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare an income statement for the three months ended December 31, 2021. BUSINESS SOLUTIONS Income Statement For Three Months Ended December 31, 2021 Revenue Computer services revenue $ 31,284 $ 3,875 555 2,475 Expenses Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer 3,065 2,753 896 250 1,305 Total expenses Net income 15,174 16,110 $ Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint: The S. Rey, Capital account balance was $0 on October 1, and owner investments were $73,000 this period. BUSINESS SOLUTIONS Statement of Owner's Equity For Three Months Ended December 31, 2021 S. Rey, Capital, October 1, 2021 Add: Investments by owner Add: Not income 0 73,000 16,110 89,110 7,100 82,010 Less: Withdrawals by ownerer S. Rey, Capital, December 31, 2021 $ Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a classified balance sheet as of December 31, 2021. BUSINESS SOLUTIONS Balance Sheet December 31, 2021 Assets Current assets Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent $ 48,372 5,668 580 1.665 825 57.110 $ Total current assets Plant assets Computer equipment Accumulated depreciation-Computer equipment Office equipment Accumulated depreciation - Office equipment 19,600 20,000 400 8,000 1.250 6,750 26,350 83,460 Total plant assets $ Liabilities $ 1,500 Current liabilities Unearned computer services revenue Accounts payable Wages payable 1.100 500 3,100 Equity S. Rey, Capital 82.010 Total liabilities and equity $ 85.110 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Record the closing entries as of December 31, 2021. View transaction list Journal entry worksheet Record the entry to close the revenue account(s). Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal Required 1 Required 2 Required 3 Required 4 Required 5 Record the closing entries as of December 31, 2021. View transaction list Journal entry worksheet Record the entry to close the expense account(s). Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Record the closing entries as of December 31, 2021. View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Record the closing entries as of December 31, 2021. View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a post-closing trial balance as of December 31, 2021. (The accounts should be listed in account number order.) BUSINESS SOLUTIONS Post-Closing Trial Balance December 31, 2021 Credit Debit Totals 0