The account balances alphabetically listed below are for Furst Company as of December 31, 2013. These balances include the effect of adjusting entries. 
Required:
a) Prepare an adjusted trial balance for Furst Company.
b) Prepare journal entries for Furst's closing entries for the year.
c) Prepare an income statement for Furst Company for 2013.
d) What was the balance in Retained Earnings after the closing entries had been made and posted?
Definitions:
Inversion Valve
is a type of valve used in air brake systems of heavy vehicles, which inverts the supply of air pressure to different parts of the system, aiding in the management and control of braking force.
Emergency Braking
The act of applying the brakes quickly and forcefully to stop a vehicle in the shortest possible distance in response to an emergency.
Significant Loss
A considerable reduction in value, functionality, or quantity of something, often financially quantified.
Secondary Circuit
An auxiliary or additional circuit that works alongside or provides support to the main electrical circuit.
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