Acosta Accounting Adjusted Trial Balance December 31, 2015 $100,000 7,000 15,000 9,000 3,300 8,000 $3,200 350,000 42,000 700,000 Cash Accounts receivable Prepaid rent Prepaid insurance Office supplies Office equipment Accumulated depreciation, equipment Building Accumulated depreciation, building Land Accounts payable Salaries payable Interest payable Long-term note payable Margarita Acosta, capital Margarita Acosta, withdrawals Service fees earned Salaries expense Insurance expense Rent expense Depreciation Expense, equipment Depreciation Expense, building Totals 5.800 14,500 2,500 52,000 1,010,000 200,500 370,800 90,000 5.200 5,000 800 7,000 $1,500,800 $1,500,800 Prepare A. Income Statement for the year ended Dec.31, 2015. B. a classified year-end balance sheet. A $7,000 installment on the long-term note payable is due within one year. C. Prepare the closing entries for the Co. for the year 2015