The following adjusted trial balance is for True man Consulting Inc. at December 31, 2018. The company had no stock issuances or repurchases during 2018.

REQUIRED

a. Prepare its income statement and statement of stockholders' equity for 2018 and its balance sheet at December 31, 2018.

b. Prepare entries to close its accounts in journal entry form.

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Debit Credit Cash..... Accounts receivable Supplies .... Prepaid insurance. Equipment .... Accumulated depreciation-equipment Accounts payable.... . . Long-term notes payable Common stock... Retained earnings Service fees revenue.... Rent expense.. Salaries expense Supplies expense. Insurance expense. Depreciation expense-equipment Interest expense.. $ 2,700 3,270 3,060 1,500 6,400 ... $ 1,080 845 .... 7,000 1,000 3,305 58,400 12,000 33,400 4,700 3,250 720 .... 630 $71,630 $71,630