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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

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 $ 51,104
106 Accounts receivable 5,668
126 Computer supplies 620
128 Prepaid insurance 1,620
131 Prepaid rent 735
163 Office equipment 8,300
164 Accumulated depreciationOffice equipment $ 415
167 Computer equipment 22,800
168 Accumulated depreciationComputer equipment 1,425
201 Accounts payable 2,000
210 Wages payable 460
236 Unearned computer services revenue 2,200
301 S. Rey, Capital 73,000
302 S. Rey, Withdrawals 7,200
403 Computer services revenue 35,389
612 Depreciation expenseOffice equipment 415
613 Depreciation expenseComputer equipment 1,425
623 Wages expense 3,450
637 Insurance expense 540
640 Rent expense 2,205
652 Computer supplies expense 4,025
655 Advertising expense 2,573
676 Mileage expense 814
677 Miscellaneous expenses 220
684 Repairs expenseComputer 1,175
901 Income summary 0
Totals $ 114,889 $ 114,889

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.

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