2 The adjusted trial balance of Large Company, Inc. at the end of its annual accounting period is as follows: LARGE COMPANY, INC. - Adjusted Trial Balance December 31, 2020 Accounts Dr. Cr. Cash $4,0004 Prepaid Insurance 1,0004 Supplies 8004 Equipment 20,000 Accumulated Depreciation-Equipment- 3,000+ Salaries Payable 700 C. Large, Capital 19,000 C. Large, Withdrawals 2,0004 Fees Earned 33,000 Insurance Expense 6004 Supplies Expense 1,300 Salaries Expense 19,0004 Depreciation Expense 1,000 Rent Expense 6,000 Totals $55,7004 $55,7004+ 1 "Required: 1. Prepare a classified statement of financial position. (16 marks) 2. Prepare the closing entries. (Explanation is not required.) (12 marks) 3. Explain the differences between temporary and permanent accounts. (4 marks)