2) The following is the adjusted trial balance as of December 31, 2017 of Current Times Watch Inc.: Accounts Cash Accounts Receivable Prepaid Insurance Office Supplies Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Land Accounts Payable Salaries Payable Unearned Revenue Debit Credit $18,000 30,000 9,000 3,200 165,000 $12,000 88,000 8,500 45,000 12,000 2,000 25,000 100,000 21,290 Mortgage Payable Common Stock Dividends Service Revenue Salaries Expense Depreciation Expense-Building and Equipment Supplies Expense Insurance Expense Utilities Expense Total 25,840 325,000 63,000 6,250 15,000 14,500 23,000 $505,790 $505,790 Provide the closing entry for the Income Summary account. (10 points) 3) Use the Adjusted Trial Balance for Anderson Service Company to prepare the classified balance sheet at September 30, 2016. Use the report form. You must compute the ending balance of Retained Earnings. (20 points) Anderson Service Company Adjusted Trial Balance September 30, 2016 Balance Account Title Debit Credit Accounts Payable Accounts Receivable $9,000 $2,800 Accumulated Depreciation, Equipment Cash Common Stock Depreciation Expense - Equipment Dividends 1,500 14,500 10,000 600 1,500 Equipment Notes Payable (long-term) Office Supplies Prepaid Rent Rent Expense Retained Earnings, August 31, 2016 Salaries Expense Service Revenue 40,000 20,000 1,500 4,800 1,200 8,100 9,000 27,500 Supplies Expense Unearned Revenue Utilities Expense 500 1,000 700 $77,100 $77,100 Total