P$4\mathrm{.}3$A $($LO $1,2,4)$ Financial Statement The completed financial statement columns of the work$-$

sheet for Bray Company are shown as follows.

Bray Company

Worksheet

For the Year Ended December $31,2020$

Instructions

a$.$ Prepare an income statement, an owner's equity statement, and a classified balance sheet.

b$.$ Prepare the closing entries. L$.$ Bray did not make any additional investments during the year.

c$.$ Post the closing entries and underline and balance the accounts. $($Use T$-$accounts.$)$ Income Sum$-$

mary is account No$.350.$

d$.$ Prepare a post$-$closing trial balance.

Prepare financial statements, closing

entries, and post$-$closing trial

balance.

a$.$ Ending capital $$30,800$

Total current assets $$22,400$

d$.$ Post$-$closing trial balance

$$46,400$