1. From the following trial balance for the ABC Co, dated 12/31/19 prepare in good form an income statement, retained earnings statement and balance sheet:

2. Journalize all closing entries from the above information

	Debit	Credit
Cash	$ 35,000.00
Accounts Receviable	$ 91,000.00
Allow Bed Debt		$ 1,800.00
Inventory	$ 84,900.00
Long Term Invest	$ 27,500.00
Land	$ 53,400.00
Building	$ 112,500.00
Account Deprecation		$ 26,780.00
Accounts Payable		$ 36,960.00
Mortage Payable		$ 99,500.00
Common Stock		$ 175,000.00
Retained Earnings		$ 14,840.00
Dividends	$ 9,670.00
Sales		$ 359,000.00
Sales Return	$ 12,890.00
Sales Discount	$ 7,540.00
Cost of Sales	$ 151,320.00
Freight	$ 6,300.00
Selling Expense	$ 62,350.00
Office Expense	$ 38,900.00
Insurance Expense	$ 14,000.00
Supplies Expense	$ 4,800.00
Taxes	$ 9,500.00
Interest Revenue		$ 520.00
Interest Expense	$ 3,300.00
Corp. Inc. Tax	$ 10,000.00
Discountiuned Loss	$ 8,000.00
Extraordinary Gain		$ 28,440.00
Net Income:	$ 742,870.00	$ 742,840.00