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The adjusted trial balance of Ernest Real Estate Appraisal at June 30, 2016, follows: (Click the icon to view the adjusted trial balance.) Read the requirements. Requirement 1. Prepare the company's income statement for the year ended June 30, 2016. (If a box is not used in the statement, leave the box empty; do not select a label or enter a zero. Use a minus sign or parentheses to show a net loss.) Reand Be nea liess 1 Requiremont 3. Prepare Re company's classted balance sheet in report form at lune 30. zbre. ot a bon an not Eldrich Real Estate Appraisal Adjusted Trial Balance June 30,2016 \begin{tabular}{|c|c|c|c|} \hline \multirow{3}{*}{\begin{tabular}{l} Account Title \\ Cash \end{tabular}} & \multicolumn{3}{|c|}{ Balance } \\ \hline & \multicolumn{2}{|r|}{ Debit } & \multirow[t]{2}{*}{ Credit } \\ \hline & s & 4,100 & \\ \hline Accounts Receivable & & 5,400 & \\ \hline Office Supplies & & 2,100 & \\ \hline Prepaid Insurance & & 1,600 & \\ \hline Building & & 82,000 & \\ \hline Accumulated Depreciation-Building & & \$ & 26,400 \\ \hline Land & & 13,900 & \\ \hline Accounts Payable & & & 18,700 \\ \hline Interest Payable & & & 8,200 \\ \hline Salaries Payable & & & 2,500 \\ \hline Unearned Revenue & & & 6,600 \\ \hline Notes Payable (long-term) & & & 35,000 \\ \hline Eldrich, Capital & & & 42,500 \\ \hline Eldrich, Withdrawals & & 26,000 & \\ \hline Service Revenue & & & 49,000 \\ \hline Insurance Expense & & 4,200 & \\ \hline Salaries Expense & & 30,000 & \\ \hline Supplies Expense & & 500 & \\ \hline Interest Expense & & 8,200 & \\ \hline Utilities Expense & & 2,700 & \\ \hline Depreciation Expense-Building & & 8,200 & \\ \hline Total & s & 188,900S & 188,900 \\ \hline \end{tabular} Requirements 1. Prepare the company's income statement for the year ended June 30, 2016. 2. Prepare the company's statement of owner's equity for the year ended June 30,2016 . Assume that there were no contributions made by the owner during the year. 3. Prepare the company's classified balance sheet in report form at June 30, 2016. 4. Journalize the closing entries. 5. T-accounts have been opened using the balances from the adjusted trial balance. Post the closing entries to the T-accounts. 6. Prepare the company's post-closing trial balance at June 30, 2016

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