From the worksheet in Exercise 13-3B, prepare the assets section of a classified balance sheet.
Refer in Exercise 13-3B,
From the following partial worksheet, journalize the closing entries of December 31 for A. Slow Co.

A. SLOW CO. WORKSHEET FOR THE YEAR ENDED DECEMBER 31, 2016 Income Statement Balance Sheet Cr. Account Titles Dr. Cr. Dr. 20300 65000 Cash Merchandise Inventory Prepaid Advertising Prepaid Insurance Office Equipment Accum. Dep'n., Office Equip. Accounts Payable A. Slow, Capital Income Summary 68000 36000 198000 36000 54800 1366 00 65000 57500 772000 Sales 36400 Sales Returns and Allowances 27700 3726 00 Sales Discounts Purchases Purchases Returns and Allow. 30400 28000 Purchases Discounts Salaries Expense Insurance Expense Utilities Expense Plumbing Expense Advertising Expense Dep'n. Expense, Office Equip. Accrued Salaries 157600 578 00 13500 88 00 5 6 00 65 00 85 00 744000 895400 387300 2359 00 1514 00 895400 Net Income 1514 00 895400 387300 387300