Required 1A Required 1B Required 1C Required 2 Prepare the December 31 closing entries. 7.5 View transaction list points Skipped Journal entry worksheet eBook HillThe adjusted trial balance of Karise Repairs on December 31 follows. KARISE REPAIRS Adjusted Trial Balance December 31 Number Account Title Debit 101 Cash Credit $ 83, 000 124 Office supplies 1, 000 128 Prepaid insurance 2, 400 167 Equipment 52, 000 168 Accumulated depreciation-Equipment $ 5, 200 201 Accounts payable 14, 000 210 Wages payable 800 301 C. Karise, Capital 32, 000 302 C. Karise, Withdrawals 17 , 500 403 Services revenue 167, 000 612 Depreciation expense-Equipment 5 , 200 623 Wages expense 38 , 000 637 Insurance expense 900 640 Rent expense 11 , 500 650 Office supplies expense 3 ,800 690 Utilities expense 3, 700 Totals $ 219, 000 $ 219, 000 Note: C. Karise, Capital account balance was $32,000 on December 31 of the prior year, and there were n during the year. Required: 1a. Prepare an income statement for the year. 1b. Prepare a statement of owner's equity for the year. 1c. Prepare a classified balance sheet at December 31. 4 Complete this question by entering your answers in the tabs below. 7.5 Required 1A Required 1B Required 1C Required 2 points Skipped Prepare a statement of owner's equity for the year. KARISE REPAIRS eBook Statement of Owner's Equity For Year Ended December 31 Print C. Karise, Capital, December 31 prior year References Add: Investments by owner 0 C. Karise, Capital, December 31 current year Hill MAR4 Required 1A Required 1B Required 1C Required 2 Prepare the December 31 closing entries. 7.5 View transaction list points Skipped Journal entry worksheet eBook 2 3 4 Print Record the entry to close the revenue account(s). References Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Mc Graw