The adjusted trial balance columns of the work sheet for Sherrick Company are as follows. Instructions (a)

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The adjusted trial balance columns of the work sheet for Sherrick Company are as follows.

                           

Instructions
  (a) Prepare an income statement, owner’s equity statement, and a classified balance sheet. $10,000 of the notes payable become due in 2013. B. Sherrick did not make any additional investments in the business during 2012.
  (b) Prepare the closing entries.
  (c) Post the closing entries. Use the three-column form of account. Income summary is No. 350.
  (d) Prepare a post-closing trial balance.

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