Refer to the adjusted trial balance in, Finance Basics

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Refer to the adjusted trial balance in

Question: Refer to the adjusted trial balance in E3-16.

Required: 1. Record the necessary closing entries at December 31, 2012.

2. Prepare a post-closing trial balance.

E3-16: The December 31, 2012, adjusted trial balance for Blue Hens Corporation is presented below.

Required: 1. Prepare an income statement for the year ended December 31, 2012.

2. Prepare a classified balance sheet as of December 31, 2012.

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