B. From the adjusted trial balance for Fabricated Products Company given below, prepare the necessary closing entries. Credit $22,000 Fabricated Products Company Adjusted Trial Balance December 31 Debit Cash $19,400 Accounts receivable 25,000 Merchandise inventory 26,000 Office supplies 1,900 Store equipment 84,000 Accumulated depreciation-store equipment Office equipment 40,000 Accumulated depreciation-office equipment Accounts payable Notes payable P. Card, Capital P. Card, Withdrawals 28,000 Sales Sales discounts 6,000 Sales returns and allowances 16,500 Cost of goods sold 145,000 Sales salaries expense 32.500 Depreciation expense-store equipment 11,000 Depreciation expense-office equipment 7.500 Office supplies expense 1.300 Interest expense 600 Totals $444,700 15,000 12,000 40,000 110,700 245,000 $444,700