The unadjusted trial balance of Arlington Air Purification System at December 31, 2014.
1. Prepare the company's income statement for the year ended June 30, 2014.
2. Prepare the company's statement of owner's equity for the year ended June 30, 2014. 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, 2014.
4. Journalize the closing entries.
5. Open the T-accounts using the balances from the adjusted trial balance and post the closing entries to the T-accounts.
6. Prepare the company's post-closing trial balance at June 30, 2014.