E 2-12 Financial statements and closing entries The December 31, 2018, adjusted trial balance for the Blueboy Cheese Corporation is presented below. Account Title Cash Accounts receivable Prepaid rent Inventory Office equipment Accumulated depreciation office equipment Accounts payable Note payable (due in six months) Salaries payable Interest payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense nterest expense Advertising expense Totals Required Debits Credits 21,000 10,000 50,000 600,000 250,000 60,000 60,000 8,000 2,000 400,000 100,000 480,000 120,000 30,000 60,000 4,000 5,000 1,680,000 1.680,000 1. Prepare an income statement for the year ended December 31, 2018, and a classified balance sheet as of December 31, 2018. 2. Prepare the necessary closing entries at December 31, 2018