(12 points)The partial work sheet of Company B at December 31, 2019, follows.

	Adjusted Trial Balance		Income Statement		Balance Sheet and Statement of Owner's Equity
	Debit	Credit	Debit Credit	Credit	Debit Credit	Credit
Cash .................................	47,800
Notes receivable (current)......	25.000
Prepaid insurance..................	8,000
Prepaid rent .....................	2,000
Equipment............................	85,000
Accumulated Depreciation Expensedepreciation-Equipment ...		28,500
Accounts payable ....... ......................		26,000
Long-term notes payable .......		31,500
XX, Capital........... ............		89,250
XX, Withdrawals ..................	15,000
Repair services revenue ................		45,200
Interest revenue.....................		3,750
Depredation expense-Equipment..............................................	14,250
Wages expense... ................	42,500
Rent expense .....................	24,000
Insurance expense .............	3,000
Interest expense.................... Totals....... .......... ............	2,850 269,400	224,200

Required:(i)Complete the work sheet by extending the adjusted trial balance totals to the appropriate financial statement columns. (4 points)

(ii)Prepare closing entries for Company B.(8 points)