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The completed adjusted trial balance for Ivanhoe Company is below.

IVANHOE COMPANY Adjusted Trial Balance December 31, 2021
Account No.		Account Titles		Dr.		Cr.
101		Cash		9,200
112		Accounts receivable		9,900
130		Prepaid insurance		3,700
157		Equipment		24,400
158		Accumulated depreciationequipment				4,600
201		Accounts payable				8,200
212		Salaries payable				3,300
301		L. Ivanhoe, capital				19,500
306		L. Ivanhoe, drawings		12,000
400		Service revenue				60,400
622		Repairs expense		1,000
711		Depreciation expense		2,400
722		Insurance expense		3,000
726		Salaries expense		30,000
732		Utilities Expense		400
		Totals		$96,000		$96,000

Part 1

Prepare an income statement.

part 2

Post the closing entries and calculate the balance in each account. (Use T accounts.) Income Summary is account No. 350. (Post entries in the order of journal entries presented in the previous part. For balances ending in 0 select bal for the date and 0 for the amount for the normal balance of the account.)

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Part 3

Prepare a post-closing trial balance. (Do not list those accounts that have zero ending balance.)