4. Based on the adjusted trial balance shown below, prepare an income statement, statement of owner's equity, and classified balance sheet for Martin Watch Company using quality format and the forms provided on the following pages for the year ended (40 points). 1. Using all 4 parts and skipping a line betweca entries, prepare the closing erties for Title Pholceraphy on this journal presides helow (15 points) JOURNAL DATE ACCOUNT PR DIT CRIDIE Credit $18.000 30.000 9,000 3,200 165.000 12.000 88.000 8.500 Land 45.000 Martin Watch Company Adjusted Trial Balance December 31, 2020 Debit Cash Accounts Receivable Prepaid Insurance Ofice Supplies Building Accumulated Depreciation - Building Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Unearned Service Revenue Long-terin Notes Payable Martin. Capital Withdrawals Set Service Revenue Feed Depreciation Expense - Building Depreciation Expense - Equipment Supplies Expense Insurance Expense Utilities Expense Totals 12.000 2,000 25.000 100,000 21,290 25,840 325.000 Salaries Expense 63.000 5,000 1.250 15,000 14.500 23.000 $505,790 II. What is the halance of the 'Tuttle. Capital account atler the closing entries are posted? (5 points) Use the t-account below for your calculations. Tuttle, Capital S505.790