The December 31, 2021, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2021) follows. Credit Number 101 106 126 128 131 Debit $ 50,385 6,168 590 1,530 800 8,400 163 $ 420 22,400 1,400 1,500 420 2,100 65,000 Account Title Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciation-office equipment Computer equipment Accumulated depreciation-Computer equipment Accounts payable Wages payable Unearned computer services revenue S. Rey, Capital S. Rey, Withdrawals Computer services revenue Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer Income summary Totals 7,300 164 167 168 201 210 236 301 302 403 612 613 623 637 640 652 655 676 677 684 901 43,054 420 1,400 3,225 510 2,400 3,555 2,638 878 160 1,135 0 $ 113,894 $ 113,894 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 $65,000 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. BUSINESS SOLUTIONS Balance Sheet December 31, 2021 Assets Current assets 0 Plant assets 0 0 0 $ 0 Liabilities Current liabilities 0 0 0 $ 0 Liabilities Current liabilities 0 Equity Total liabilities and equity $ 0 Journal entry worksheet Record the entry to close the revenue account(s). Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal Record the entry to close the expense account(s). Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal Journal entry worksheet Record the entry to close the Income summary account. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal View transaction list Journal entry worksheet