The Dreger Company was established on January 1, 2018. Use the information in the adjusted trial bal

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The Dreger Company was established on January 1, 2018. Use the information in the adjusted trial balance below to answer Questions #1, 2, 3 and 4.

1) Prepare the 4 closing entries for Dreger Company as of year-end 2018.

2) Prepare an income statement for the year 2018.    

3) Prepare a “Owners’ Equity Statement” for the year 2018. Please note that the starting balance of the “Owner’s Capital” account as of January 1, 2018 was $0, then Mrs. Dreger contributed $12,825 to start the company.

4) Prepare a balance sheet for Dreger Company as of December 31, 2018.
Note: for each of the above 3 statements, please make sure to have the proper 3-line heading.

The Dreger Company was established on January 1, 2018. Use the information in the adjusted trial balance below to answer Questions #1, 2, 3 and 4. Dreger Company Adjusted Trial Balance For the Year Ended December 31, 2018 $ 6,025 2,100 700 12,600 1,900 4,000 200 12,825 1 Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Notes Payable Salaries & Wages Payable Owner's Capital Owner's Drawings Service Revenue Salaries & Wages Expense Rent Expense Utilities Expense Postage Expense Miscellaneous Expense Totals 800 8,750 2,500 1,860 | 775 250 65 $27,675 $27,675 1) Prepare the 4 closing entries for Dreger Company as of year-end 2018. 2) Prepare an income statement for the year 2018. 3) Prepare a “Owners' Equity Statement” for the year 2018. Please note that the starting balance of the “Owner's Capital” account as of January 1, 2018 was $0, then Mrs. Dreger contributed $12,825 to start the company. 4) Prepare a balance sheet for Dreger Company as of December 31, 2018. Note: for each of the above 3 statements, please make sure to have the proper 3-line heading.