The adjusted trial balance of Elmo Real Estate Appraisal at June 30, 2016, follows:

Requirements
1. Prepare the company€™s income statement for the year ended June 30, 2016.
2. Prepare the company€™s statement of retained earnings for the year ended June 30, 2016.
3. Prepare the company€™s classified balance sheet in report form at June 30, 2016.
4. Journalize the closing entries.
5. Open the T-accounts using the balances from the adjusted trial balance, and post the closing entries to the T-accounts.
6. Prepare the company€™s post-closing trial balance at June 30, 2016.

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ELMO REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2016 Balance Debit Credit Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Building Accumulated Depreciation-Building Land Accounts Payable Interest Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Retained Earnings Dividends Service Revenue Insurance Expense Salaries Expense Insurance Expense Salaries Expense Supplies Expense Interest Expense Utilities Expense Depreciation Expense-Building Tota 4,900 4,800 2,700 1,900 79,000 $ 26,600 12,600 19,300 8,300 1,700 800 42,000 6,000 37,000 27,100 48,400 4,000 33,900 4,000 33,900 200 8,300 2,800 7,900 $ 190,100 190.100