complete the required 1 and prepare a post-closing trail balance

Problem 4-4A Preparing closing entries, financial statements, and ratios C3 A1 P2 The adjusted trial balance for Sharjah Construction as of December 31,2015 , follows. O. Sharjah invested $5,000 cash in the business during year 2015 (the December 31,2014 , credit balance of the 0 . Sharjah, Capital account was $121,400 ). Sharjah Construction is required to make a $7,000 payment on its long-term notes payable during 2016. Required 1. Prepare the income statement and the statement of owner's equity for the calendar year 2015 and the classified balance sheet at December 31 , 2015. Check (1) Total assets (12/31/2015), \$218,100; Net income, $4,300