Williams Mechanic Services prepared for the following work sheet for the year ended March 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 $ 5,000 on March 13.
4. Prepare a balance sheet.
5. Journalize the closing entries using the four steps in the correct sequence.
6. Prepare a post- closing trial balance.

Williams Mechanic Services Work Sheet For Year Ended March 31, 20- TRIAL BALANCE ADJUSTED TRIAL BALANCE ADJUSTMENTS DEBIT ACCOUNT NAME Cash Accounts Recaivable Supplies Prepaid Insurance Equpment DEBIT CREDIT CREDIT DEBIT CREDIT 6,500.00 1,260.00 215.00 2,000.0O 3,500.00 6,500.00 1,250.00 415.00 2,175.00 (e) 200.00 (a) 175.c0 (b) 75.00 (c) 300.00 Aoaumieted Deprciaton, Equipment 3,50000 redat 1.30000 1,275.00 Truck Aocumulated Depreciaion, Truck Acoounts Payabla J. Williams Cepital J. Williams Drawing Fees Earned Salary Expense Advertising Expense Truck Operating Expense Utifties Expense Miscelaneous Expense 18,300.00 18,300.00 4,00000 900,00 16,94000 4,300.00 800.00 16.840.00 3,000.00 3,000.00 15,00000 15,000.00 (d) 125.00 1,200.00 00.00 250.00 600.00 150.00 1,325.00 600.00 250.00 600.00 150.00 37 940 00 9745900037000 Insuranoa Expense Depreciation Expense, Equipment Depreciation Expense. Truck Salaries Payatle Supplies Expense (a) 175.00 (b) 75.00 (c) 300.00 175.00 75.00 300.00 (d) 125.c0 125.00 (e) 2co.co 875.00 200.00 38,440.00 876.00 38,440.00