The completed financial statement columns of the worksheet for Woods Company are shown below.

Instructions(a) Prepare an income statement, owner??s equity statement, and a classified balance sheet.S. Woods made an additional investment in the business of $4,000 during 2010.(b) Prepare the closing entries.(c) Post the closing entries and rule and balance the accounts. Use T accounts. Income Summary is account No. 350.(d) Prepare a post-closing trialbalance.

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WOODS COMPANY Worksheet For the Year Ended December 31, 2010 Income Statement Balance Sheet Account Cr. Dr. No. Account Titles Dr. Cr. 8,200 101 Cash 112 Accounts Receivable 7.500 Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Salaries Payable S. Woods, Capital S. Woods, Drawing 130 1,800 157 28,000 8,600 11.700 167 201 3,000 34,000 212 301 306 7.200 400 Service Revenue 44.000 622 Repair Expense Depreciation Expense Insurance Expense Salaries Expense 5,400 2,800 1.200 711 722 726 35,200 732 Utilities Expense 4.000 Totals 48,600 44.000 52.700 57.300 Net Loss 4.600 4,600 48.600 48.600 57.300 57.300