TYBALT CONSTRUCTION Adjusted Trial Balance December 31 Number Account Title Debit Credit 101 Cash $ 6,000 251 Long-term notes payable 60,500 301 O. Tybalt, Capital 127,700 302 O. Tybalt, Withdrawals 11,100 404 Services revenue 101,000 406 Rent revenue 17,000 409 Interest revenue 5,300 606 Depreciation expenseBuilding 12,540 612 Depreciation expenseEquipment 6,000 623 Wages expense 45,000 633 Interest expense 3,400 637 Insurance expense 8,200 640 Rent expense 10,400 652 Supplies expense 7,300 683 Property taxes expense 4,100 Totals $ 430,600 $ 430,600 Oro Tybalt invested $6,000 cash in the business during the year. The O. Tybalt, Capital account balance was $121,700 on December 31 of the prior year. Required: 1a. Prepare the income statement for the current year ended December 31. 1b. Prepare the statement of owner's equity for the current year ended December 31. 1c. Prepare the classified balance sheet at December 31 of the current year. 2. Prepare the necessary closing entries at December 31 of the current year.