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The completed adjusted trial balance for Sheridan Company is below.

SHERIDAN COMPANY Adjusted Trial Balance December 31, 2021
Account No.		Account Titles		Dr.		Cr.
101		Cash		8,000
112		Accounts receivable		11,200
130		Prepaid insurance		3,600
157		Equipment		24,400
158		Accumulated depreciationequipment				4,600
201		Accounts payable				9,600
212		Salaries payable				2,200
301		L. Sheridan, capital				21,200
306		L. Sheridan, drawings		12,000
400		Service revenue				60,800
622		Repairs expense		1,900
711		Depreciation expense		3,200
722		Insurance expense		2,900
726		Salaries expense		30,800
732		Utilities Expense		400
		Totals		$98,400		$98,400

1) Prepare an income statement.

2) Prepare a statement of owners equity. L. Sheridan did not make any additional investments during the year. (List items that increase Owner's Equity first.)

3) Prepare a classified balance sheet. L. Sheridan did not make any additional investments during the year. (List Current Assets in the order of liquidity.)

4) Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

5) Post the closing entries and calculate the balance in each account. (Use T accounts.) Income Summary is account No. 350. (Post entries in the order of journal entries presented in the previous part. For balances ending in 0 select bal for the date and 0 for the amount for the normal balance of the account.)

6) Prepare a post-closing trial balance. (Do not list those accounts that have zero ending balance.)