Chapter $3$ Assignment i

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$\backslash$table$[[,\backslash$table$[[$TYBALT CONSTRUCTION$],[$Adjusted Trial Balance$],[$December $31]]],[6,$Number,Account Title,Debit,Credit$],[101,$Cash,$ $5,000,],[126,$Supplies,$31,100,],[128,$Prepaid insurance,$7,000,],[167,$Equipment,$40,000,],[$Skipped$,168,$Accumulated depreciation$-$Equipment,,$ $20,000],[173,$Building,$150,000,],[174,$Accumulated depreciation$-$Building,,$50,000],[183,$Land,$55,000,],[$eBook$,201,$Accounts payable,,$16,500],[203,$Interest payable,,$2,500],[208,$Rent payable,,$3,500],[210,$Wages payable,,$2,500],[213,$Property taxes payable,,$900],[,236,$Unearned revenue,,$14,500],[,251,$Long$-$term notes payable,,$60,000],[,307,$Common stock,,$15,000],[\backslash$table$[[$References$]],318,$Retained earnings,,$111,400],[319,$Dividends,$13,000,],[403,$Services revenue,,$97,000],[406,$Rent revenue,,$14,000],[409,$Interest revenue,,$4,100],[606,$Depreciation expense$-$Building,$11,000,],[612,$Depreciation expense$-$Equipment,$6,000,],[623,$Wages expense,$52,900,],[633,$Interest expense,$5,100,],[637,$Insurance expense,$10,000,],[640,$Rent expense,$13,400,],[652,$Supplies expense,$7,400,],[683,$Property taxes expense,$5,000,],[,$Totals,$ $411,900,$$ $411,900]]$

The Retained Earnings account balance was $$111,400$ on December $31$ of the prior year.

Required:

$1$a$.$ Prepare the income statement for the current year ended December $31.$

$1$b$.$ Prepare the statement of retained earnings for the current year ended December $31.$

$1$c$.$ Prepare the classified balance sheet at December $31$ of the current year.

$2.$ Prepare the necessary closing entries at December $31$ of the current year.