The completed financial statement columns of the worksheet for Rahim Company, Ltd. are as follows.

Instructions
(a) Prepare an income statement, a retained earnings statement, and a classified statement of financial position (amounts in euros).
(b) Prepare the closing entries.
(c) Post the closing entries, and underline and balance the accounts. (Use T-accounts.) Income Summary is account No. 350.
(d) Prepare a post-closing trial balance.

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RAHIM COMPANY, LTD Worksheet For the Year Ended December 31, 2017 Statement of Income Statement Financial Position Account Account Titles NaD 101 Cash 112 Accounts Receivable 130 Prepaid Insurance 157 Equipment 158 Accumulated Depreciation-Equip 201 Accounts Payable 212 Salaries and Wages Payable 1 Share Capital-Ordinary 320 Retained Earnings 332 400 622 711 Depreciation Expense 722 726 Salaries and Wages Expense 732 Utilities Expense Dr. Cr. Dr Tir. 6,200 7,500 600 33,000 9,900 10,700 3,000 20,000 9,700 Dividends Servi Rve Maintenance and Repairs Expense 4,000 47,000 4,100 3,300 2,400 35,200 4,000 Insurance Expense otals Net Loss 49,000 47,00051,300 53,300 2,0002,000 49,000 49,000 53,300 53,300