33 marks, 50 minutes At December 31, 2020 Sumble Corporation had the following balances. (a) Prepare a classified statement of financial position, statement of income and statement of retained earnings - all in good form. (b) Prepare the closing journal entries Accounts Payable $26,300 Accounts Receivable $10,000 Accumulated depreciation - equipment $8,400 Bank loan payable (5,000 to be paid with 1 $29,500 year) Cash $35,950 Common shares $43,750 Depreciation expense $8,400 Dividends declared $525 Equipment $82,000 Land $12,300 Income tax expense 20% Interest expense $1,750 Marketing expense $6,125 Mortgage payable $5,000 Prepaid expense - flight $1,500 Rent expense $20,000 Retained earnings, Jan 1, 2020 $28,000 Salaries expense $15,350 Sales revenue $56,875 Supplies $7,875 Unearned revenue $5,000