The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. TYBALT...

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The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. TYBALT CONSTRUCTION Adjusted Trial Balance December 31 Number Account Title Debit Credit 101 Cash $ 6,500 126 Supplies 34,300 128 Prepaid insurance 8,900 167 Equipment 45,000 168 Accumulated depreciation-Equipment $ 22,500 173 Building 171,000 174 Accumulated depreciation-Building 57,000 183 Land 64,110 201 Accounts payable 16,000 203 Interest payable 2,400 208 Rent payable 3,700 210 Wages payable 2,700 213 Property taxes payable 800 236 Unearned revenue 15,000 251 Long-term notes payable 60,500 301 0. Tybalt, Capital 131,200 302 0. Tybalt, Withdrawals 10,100 404 Services revenue 103,000 406 Rent revenue 16,000 409 Interest revenue 5,300 606 Depreciation expense-Building 12,540 612 Depreciation expense-Equipment 6,750 623 Wages expense 45,500 633 Interest expense 3,300 637 Insurance expense 7,700 640 Rent expense 10,600 652 Supplies expense 5,700 683 Property taxes expense Totals 4,100 $ 436,100 $ 436,100 Oro Tybalt invested $6,500 cash in the business during the year. The O. Tybalt, Capital account balance was $124,700 on December 31 of the prior year. Required: 1a. Prepare the income statement for the current year ended December 31. 1b. Prepare the statement of owner's equity for the current year ended December 31. 1c. Prepare the classified balance sheet at December 31 of the current year. 2. Prepare the necessary closing entries at December 31 of the current year. The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. TYBALT CONSTRUCTION Adjusted Trial Balance December 31 Number Account Title Debit Credit 101 Cash $ 6,500 126 Supplies 34,300 128 Prepaid insurance 8,900 167 Equipment 45,000 168 Accumulated depreciation-Equipment $ 22,500 173 Building 171,000 174 Accumulated depreciation-Building 57,000 183 Land 64,110 201 Accounts payable 16,000 203 Interest payable 2,400 208 Rent payable 3,700 210 Wages payable 2,700 213 Property taxes payable 800 236 Unearned revenue 15,000 251 Long-term notes payable 60,500 301 0. Tybalt, Capital 131,200 302 0. Tybalt, Withdrawals 10,100 404 Services revenue 103,000 406 Rent revenue 16,000 409 Interest revenue 5,300 606 Depreciation expense-Building 12,540 612 Depreciation expense-Equipment 6,750 623 Wages expense 45,500 633 Interest expense 3,300 637 Insurance expense 7,700 640 Rent expense 10,600 652 Supplies expense 5,700 683 Property taxes expense Totals 4,100 $ 436,100 $ 436,100 Oro Tybalt invested $6,500 cash in the business during the year. The O. Tybalt, Capital account balance was $124,700 on December 31 of the prior year. Required: 1a. Prepare the income statement for the current year ended December 31. 1b. Prepare the statement of owner's equity for the current year ended December 31. 1c. Prepare the classified balance sheet at December 31 of the current year. 2. Prepare the necessary closing entries at December 31 of the current year.