For Questions $2\mathrm{.}3$ and $4$

Best Toys Inc. reported the following adjusted trial balance for the year ended $12/31/2022$:

$\backslash$table$[[,$Adjusted Tri,Balance$],[$ACCOUNT NAME,Debit,Credit$],[$Inventory$,12,000,],[\backslash$table$[[$Supplies$]],30,000,],[\backslash$table$[[$Supplies$],[$Equipment$]],50,000,],[,100,000,],[\backslash$table$[[$Accumulated Depreciation, Equipment$],[$Notes Payable$]],,5,000],[,,20,000],[,,25,000],[$Owner$\text{'}$s Capital,,$40,000],[$Owner$\text{'}$s Drawings,$1,000,],[$Sales Revenue,,$650,000],[$Sales Returns & Allowances,$40,000,],[$Purchases$,450,000,],[$Purchases Discounts,,$8,000],[$Purchase Returns & Allowances,,$7,000],[$Freight$-$in$,15,000,],[$Utilities Expense,$29,000,],[$Rent Expense,$30,000,],[$Totals$,757,000,755,000]]$

On $\frac{12}{31}\frac{?}{2021},$ Best Toys reported inventory of $$28,000.$

Question $2(50$ points$)$

Prepare an income statement for Best Toys for the year ended $2022.$

Question $3(30$ points$)$

Prepare a balance sheet for Best Toys as of $12/31/2022.$

Question $4(10$ points$)$

Prepare the closing entries for Best Toys.