Benzinger Truck Rental owns thirty small trucks that it rents by the day. Its adjusted trial balance at LO 6 Preparation of Financial the end of the current accounting year is shown below.

1. Prepare an income statement and a balance sheet.
2. From the information given, record the closing entries.

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Benzinger Truck Rental Trial Balance December 31, 20x2 Cash Accounts Receivable Supplies 1,384. 1,944 238 Prepaid Insurance 720 Trucks 24,000 Accumulated Depreciation, Trucks 14,400 Accounts Payable 542 Wages Payable 400 Share Capital 2,000 Retained Earnings Dividends Truck Rentals Wages Expense 6,388 11,400 91,092 46,800 Insurance Expense 1,440 Supplies Expense 532 Depreciation Expense, Trucks 4,800 Other Expenses 21,564 Income Taxes Expense 4,000 Income Taxes Payable 4,000 118,822 118,822