The muddy company completed financial statement columns of the worksheet for are shown below.
(a) Prepare an income statement, an owner equity statement, and a classified balance sheet.
(b) Prepare the closing entries. Melissa did not make any additional investments during the year.
(c) Post the closing entries and rule and balance the accounts. Use T accounts. Income Summary is account No. 350.
(d) Prepare a post-closing trial balance.