Exercise 2-12 (Algo) Financial statements and closing entries [LO2-7, 2-8] The December 31, 2024, adjusted trial balance for the Blueboy Cheese Corporation is presented below. Required: 1-a. Prepare an income statement for the year ended December 31, 2024. 1-b. Prepare a classified balance sheet as of December 31, 2024. 2. Prepare the necessary closing entries on December 31, 2024. Prepare the necessary closing entries on December 31, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. Prepare the necessary closing entries on December 31, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first accoun Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits