Working Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Working Company prepared the following adjusted trial balance at December 31, 2015, the end of the current fiscal year:

Instructions
1. Prepare an income statement for the year ended December 31.
2. Prepare a statement of owner€™s equity for the year ended December 31. No additional investments were made during the year.
3. Prepare a balance sheet as at December 31.
4. Journalize the closing entries.
5. Prepare a post-closing trial balance.

Working Company Adjusted Trial Balance December 31, 2015 Debit Balances Credit Balances Cash.... Accounts Receivable.... Prepaid Insurance.. Building.... Accumulated Depreciation-Bldg Land.... Accounts Payable.. 5,800 22,200 1,200 ...200,000 101,700 98,000 5.700 1,100 235,320 Mohammad Amin, Capital. ohammad Amin, Withdrawals Fees Revenue Advertising Expense.. Miscellaneous Expense. Depreciation Expense Insurance Expense. 57,000 4,320 3,000 400,820 400,820