The completed financial statement columns of the worksheet for Yulon Company, Ltd. are as follows.

Instructions
(a) Prepare an income statement, a retained earnings statement, and a classified statement of financial position (amounts in Taiwan, new dollars).
(b) Prepare the closing entries.
(c) Post the closing entries, and underline and balance the accounts. (Use T-accounts.) Income Summary is account No. 350.
(d) Prepare a post-closing trial balance.

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YULON COMPANY, LTD Worksheet For the Year Ended December 31, 2017 Income Statement Statement of Financial Position Account No Account Titles 10 Cash 112 Accounts Receivable 130 Prepaid Insurance 157 Equipment 158 Accumulated Depreciation-Equip. 20 Accounts Payable 212 Salaries and Wages Payable 31 Share Capital-Ordinary 320 Retained Earnings 332 Dividends 400 Service Revenue 267,000 . 324,000 84,000 840,000 180,000 60,000 66,000 360,000 430,800 210,000 1,680,000 622 71 Depreciation Expense 722 Insurance Expense 726 Salaries and Wages Expense 132 Utilities Expen Maintenance and Repairs Expense 48,000 90,000 64,800 810,000 39,000 Total Net Income 1,051,800 1,680,000 1,725,000 1,096,800 628,200 628,200 1,680,000 1,680,000 1,725,000 1,725,000