Learning Objectives 1, 3, 4 1. Net Loss $(6,600) Chapter 4: Completing the Accounting Cycle P4-35B Preparing financial statements including a classified balance sheet in report form, preparing and posting closing entries, and preparing a post-closing trial balance The adjusted trial balance of Rocket Real Estate Appraisal at June 30, 2018, follows: ROCKET REAL ESTATE APPRAISAL Adjusted Trial Balance June 30, 2018 Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Land Building Accumulated Depreciation-Building Accounts Payable Interest Payable 232 Balance Debit Credit $ 5,000 5,500 1,600 1,700 12,800 71,000 $ 25,200 18,700 8,000 Land 12,800 Building 71,000 Accumulated Depreciation-Building $ 25,200 Accounts Payable 18,700 Interest Payable 8,000 Salaries Payable 2,100 Unearned Revenue 1,000 Notes Payable (long-term) 37,000 Rocket, Capital 38,000 Rocket, Withdrawals 25,800 Service Revenue 48,100 Insurance Expense 4,100 Salaries Expense 32,000 Supplies Expense 600 Interest Expense 8,000 Utilities Expense 2,900 Depreciation Expense-Building 7,100 Total $178,100 $ 178,100 O 232 EJ Chapter 4: Completing the Accounting Cycle Requirements 1. Prepare the company's income statement for the year ended June 30, 2018. 2. Prepare the company's statement of owner's equity for the year ended June 30, 2018. Assume that there were no contributions made by the owner during the year. 3. Prepare the company's classified balance sheet in report form at June 30, 2018. 4. Journalize the closing entries. 5. Open the T-accounts using the balances from the adjusted trial balance, and post the closing entries to the T-accounts. 6. Prepare the company's post-closing trial balance at June 30, 2018. Completing the A