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The adjusted trial balance of Karise Repairs on December 31, 2017, follows.

KARISE REPAIRS Adjusted Trial Balance December 31, 2017
No.	Account Title	Debit				Credit
101	Cash	$	29,000
124	Office supplies		1,500
128	Prepaid insurance		2,200
167	Equipment		50,000
168	Accumulated depreciationEquipment					$	5,000
201	Accounts payable						13,500
210	Wages payable						1,200
301	C. Karise, Capital						30,000
302	C. Karise, Withdrawals		18,000
401	Repair fees earned						122,300
612	Depreciation expenseEquipment		5,000
623	Wages expense		43,000
637	Insurance expense		1,400
640	Rent expense		16,000
650	Office supplies expense		3,400
690	Utilities expense		2,500
	Totals	$	172,000			$	172,000

Assume there are no owner investments in 2017. Required: 1a. Prepare an income statement for the year 2017. 1b. Prepare a statement of owner's equity for the year 2017. 1c. Prepare a classified balance sheet at December 31, 2017. 2. Complete the work sheet using the adjusted trial balance in the first two columns of a six-column table. Use columns three and four for closing entry information and the last two columns for a post-closing trial balance. 3. Using information from the work sheet in Requirement 2, prepare the appropriate closing entries.

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