High Tower Corporation has provided you the following information pertaining to account balances as of December 31, 2021 after their first year in business: Equipment 125,000 Interest Expense 4,900 Interest Payable 1,600 Retained Earnings (before closing entries) 0 Dividends 50,400 Land 145,000 Accounts Receivable 82,000 Bonds Payable (due July 2027) 60,000 Notes Payable (due in 6 months) 7,000 Common Stock 60,000 Accumulated Depreciation - Equipment 36,000 Prepaid Advertising 13,900 Service Revenue 382,700 Buildings 266,000 Supplies 2,260 Accounts Payable 9,400 Income Taxes Payable 11,000 Utilities Expense 5,150 Advertising Expense 2,600 Salaries and Wages Expense 75,470 Salaries and Wages Payable 11,900 Accumulated Depreciation. - Building 227,000 Cash 24,420 Depreciation Expense 9,500 Although High Tower Corporation did not provide you an Adjusted Trial Balance, they have assured you that all accounts listed above have normal balances and include all December 31, 2021 year-end adjustments. Closing journal entries have Not been made (see #1 below). Required: 1. Prepare closing entries for the 2021 year. Be sure to use proper form and correct account names. 2. Prepare a classified balance sheet in proper form for the company as of December 31, 2021.