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The adjusted trial balance of Karise Repairs on December 31, 2013, follows.

KARISE REPAIRS Adjusted Trial Balance December 31, 2013
No.	Account Title	Debit				Credit
101	Cash		$	14,000
124	Office supplies			1,300
128	Prepaid insurance			2,050
167	Equipment			50,000
168	Accumulated depreciationEquipment						$	5,000
201	Accounts payable							14,000
210	Wages payable							600
301	C. Karise, Capital							33,000
302	C. Karise, Withdrawals			16,000
401	Repair fees earned							90,950
612	Depreciation expenseEquipment			5,000
623	Wages expense			37,500
637	Insurance expense			800
640	Rent expense			10,600
650	Office supplies expense			3,600
690	Utilities expense			2,700
	Totals		$	143,550			$	143,550
	Assume there are no owner investments in 2013. Required: Assume there are no owner investments in 2013. Required: 1.1 Prepare an income statement for the year 2013 1.2 Prepare a statement of owner's equity for the year 2013 1.3 Prepare a classified balance sheet at December 31, 2013.

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