Credit 42.000 The following adjusted TRIAL Balance is given for ACAR Photography, ACAR Photography Adjusted TRIAL BALANCE Dec., 31, 2018 Accounts Debit Cash 30.000 Accounts receivable 60.000 Supplies 15.000 Notes Receivable 6.400 Land 80.000 Building 320.000 Accumulated Depreciation-Building Equipment 150.000 Accumulated Depreciation- Equipment Accounts Payable Salaries Payable Unearned Service Revenue Notes Payable Capital, ACAR Withdrawals 46.000 Service Revenue Salaries Expense 122.000 12.300 Depreciation Expense 28.080 Supplies Expense 28.000 Rent Expense 41.800 Utilities Expense 939,580 17.000 24.000 4.000 50.000 200.000 24.580 578.000 239.580 Requirement: Make closing entries (10 points and prepare the following Financial Statements: a. Income Statement for the period (10 points) b. Balance Sheet at Dec 31, 2016 (10 points)