Problem $4-5$A $($Algo$)$ Preparing financial statements and closing entries LO C$1,$ P$2$

The adjusted trial balance of Karise Repairs on December $31$ follows.

$\backslash$table$[[$Aumber$,\backslash$table$[[$KARISE REPAIRS$],[$Adjusted Trial Balance$],[$December $31]],$Debit,Credit$],[\backslash$table$[[101],[124]],\backslash$table$[[$Cash$],[$office supplies$]],1,600,],[\backslash$table$[[124],[128]],\backslash$table$[[$Office supplies$],[$Prepaid insurance$]],2,550,],[\backslash$table$[[128],[167]],\backslash$table$[[$Prepaid insurance$],[$Equipment$]],51,000,],[\backslash$table$[[\frac{16}{?}$