7. [25] Provide ALL closing entries for the following trial balance, and provide both a balance sheet and an income statement for the company. Cash Securities Accts, Receivable Inventory Pre Paid Expense Fixed Assets Accumulated Depr Land 20,000 25,000 15,000 40,000 10,000 190,000 60,000 210,000 Wages Payable Accts Payable Notes Payable Long Term Debt 25,000 40,000 90,000 100,000 Owners' Equity 160,000 Revenue 200,000 55,000 28,000 35,000 Cost of Goods Sold Sales Expense Admin Expense Gain on Sale of Assets Interest Expense Provision for Taxes 20,000 25,000 42,0001