he December 31, 2021, adjusted trial balance for the Blueboy Cheese Corporation is presented below.

Account Title	Debits		Credits
Cash	36,100
Accounts receivable	315,000
Prepaid rent	11,500
Inventory	47,000
Office equipment	570,000
Accumulated depreciation			238,000
Accounts payable			66,000
Notes payable (due in six months)			51,000
Salaries payable			7,200
Interest payable			1,700
Common stock			400,000
Retained earnings			135,000
Sales revenue			720,000
Cost of goods sold	432,000
Salaries expense	108,000
Rent expense	34,500
Depreciation expense	57,000
Interest expense	3,400
Advertising expense	4,400
Totals	1,618,900		1,618,900

Required: 1-a. Prepare an income statement for the year ended December 31, 2021. 1-b. Prepare a classified balance sheet as of December 31, 2021. 2. Prepare the necessary closing entries at December 31, 2021.