Tom€™s Catering Services prepared the following work sheet for the year ended December 31, 20€”.

Required
1. Complete the work sheet.
2. Prepare an income statement.
3. Prepare a statement of owner€™s equity; assume that there was an additional investment of $ 2,500 on December 1.
4. Prepare a balance sheet.
5. Journalize the closing entries with the four steps in the correct sequence.
6. Prepare a post- closing trialbalance.

Tom's Catering Services Work Sheet For Year Ended December 31,20- TRIAL BALANCE DEBIT ADJUSTMENTS ADJUSTED TRIAL BALANCE ACCOUNT NAME Cash Accounts Recenatle Suppliee Prepaid Insurance Equipment Accumulated Depreciation, Equipment Truck Accunaulated Depreciation, Truck Accounts Payakle Y Tom Capital Y Tom Drawing Fees Earned Salary Expnse Advertising Expense Truck Operabing Expense Ublities Expense Miscelaneous Expense CREDIT DEBIT CREDIT DEBIT CREDIT 240000 2,40000 80000 22500 1,20000 2,280000 80000 14500 1,10000 2,220000 e 80.00 (a) 100.00 (b) 185.00 (c) 1.000.00 370.00 565.00 25,000000 25,00000 5000.00 250.00 26,500.00 6,000.00 250,00 26,500.00 1,50000 1,5000 2,400.00 2 400.00 64000 13000 12500 20000 8000 72000 13000 12500 20000 80oo 34,5000 3452000 Insurance Expense Depreciation Expense Equipment Depreciation Expensa Truck Salaries Payable Supplies Expense (a) 100.00 (b) 185.00 (c) 1.000.00 100.00 18500 100000 (d) 80.00 80.00 (e)--80.00 1445.00 8000 1,445.00 35,78600 1DR 35,785,00