I am stuck putting together the Income statement and Balance sheet portion of this worksheet, as well as how to prepare closing entries for the year. I have included all statements I completed thus far but I am having trouble identifying what goes into the last 2 columns of the worksheet from my statements, and how to do a closing entries statement.

End of Period Worksheet For the Year Ended December 31, 2019 Unadjusted Account Title Trial Balance Adjustments DR CR DR CR Cash 125,214 Accounts Receivable 494,952 Allowance for Doubtful Accounts 20.861 24,995 Interest Receivable 993 Note Receivable 183.290 Merchandise Inventory 361.866 Prepaid Insurance 13.284 4,428 Prepaid Rent 22,140 13.284 Supplies 56,088 41,858 Equipment 517,092 Accumulated Depreciation - Equipment 54,612 41,008 Accounts Payable 51,709 Salaries & Wages Payable 66.789 Unearned Revenue 32,000 10,667 Interest Payable 16,067 Utilities Payable 4.841 Note Payable (final payment due 2023) 350,550 Common Stock 270.600 Retained Earnings 418,200 Dividends 120.540 Sales 5.169,690 Consulting Revenue 10.667 Sales Returns and Allowances 29,520 Sales Discounts 63,468 Cost of Goods Sold 3,520.014 Salaries & Wages Expense 801,468 66,789 Depreciation Expense - Equipment 41.008 Bad Debt Expense 24,995 Insurance Expense 4,428 Rent Expense 13.284 Supplies Expense 41.858 Utilities Expense 59.286 4.841 Interest Revenue 993 Interest Expense 16,067 6,368.222 6,368,222 224.930 224,930 Net Income Adjusted Trial Balance Income Statement Balance Sheet DR CRDR CRDR CR 125,214 494,952 45,856 993 183.290 361.866 8,856 8,856 14,230 517,092 95.620 51,709 66,789 21,333 16,067 4,841 350,550 270,600 418,200 120.540 5.169,690 10,667 29.520 63,468 3,520.014 868,257 41.008 24,995 4,428 13,284 41,858 64.127 993 16,067 6,522,915 6,522,915 Estimated Balance December 31, 2019 Estimated % Uncollectible Amount Uncollectible Age of Accounts Current 296,971 2% 5,939 123,738 4% 4,950 59,394 8,909 130 days past due 3190 days past due Over 90 days past due Total Accounts Receivable 15% 35% 14,849 494,952 5,197 24,995 a. On February 1, 2019, Rochester Enterprise had signed a 5% bank loan (refer to the worksheet) due in 4 years. This is the only outstanding note payable. b. Prepaid insurance represents a 6-month insurance policy purchased on November 1, 2019. c. On October 1, 2019, Rochester Enterprise paid $22,140 for a 5-month lease for office space. d. Unearned revenue represents a 12-month contract for consulting services. The payment was received on September 1, 2019. e. Supplies on hand total $14,230. f. Equipment is depreciated on a straight-line basis; residual value is estimated to be $25,000 with an estimated service life of 12 years. The assets were held the entire year. g. On December 1, Rochester Enterprise issued Greene Supplies an 8-month note receivable at a 6.5% annual interest rate. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The aging schedule of accounts receivable must be completed to determine management's desired balance for 2019. i. Accrued wages totaling $66,789 were unpaid and unrecorded at December 31, 2019. j. Utility costs incurred but unrecorded for the month of December were estimated to be $4,941. Adjusting Journal Entries For the Year Ended December 31, 2019 Account Titles DR Interest Expense [350,550*5%*(11/12)] $ 16,067 Interest Payable CR a. $ 16,067 b. Insurance Expense Prepaid Insurance (13,284*(2/6)] 4,428 4,428 c. Rent Expense Prepaid Rent [22, 140*(3/5)] 13,284 13,284 d. [32,000*(4/12)] 10,667 Unearned revenue Consulting revenue 10,667 e. [56,088 - 14,230] 41,858 Supplies Expense Supplies 41,858 41.008 Depreciation Expense [(517,092-25,000)/12] Accumulated depreciation 41,008 g. Interest Receivable Interest Revenue [183,290*6.5%*(1/12)] 993 993 h. 24,995 Bad Debt Expense [Refference Aging Analysis] Allowance For Doubtful Accounts 24,995 66,789 Wages Salaries and Wages Payable 66,789 4,841 Utilities Expense Utilities Payable 4,841 ) Particulars: Operations Revenue Consulting Revenue Interest Revenue Total Income: Income Statement for the year ending 3/12/19 Amount($) 5,169,690 10,667 993 5,181,350 3,520,014 29,520 63,468 868,257 Expenses: Cost of Goods Sold Sales Returns/ Allowances Sales Discounts Salaries&Wage Expense Equipment Depreciation Expense Bad Debt Expense Insurance Expense Rent Expense Supplies Expense Utilities Expense Interest Expense Total Expenses: Net Profit Durring Year: 41,008 24,995 4,428 13,284 41,858 64,127 16,067 4,687,026 494,324 Statement of Retained Earnings Opening Balance: Add: Net Profit During Year Less: Dividends Closing Balance: 418,200 494,324 120,540 791,984 Balance Sheet 12/31/2019 Amount ($) Particulars: Equity & Liabilities: Common Stock Retained Earnings 270,600 791,984 1,062,584 Non Current Liabilites: Notes Payable 350,550 350,550 4,841 16,067 Current Liabilities: Utilities Payable Interest Payable Salaries&Wages Payable Unearned Revenue Accounts Payable Allowance for Doubtful Debts 66,789 21,333 51,709 45,856 206,595 Total Liabilities: 1,619,729 Assets: non-Current Assets: Equipment less: Depriciation 517,092 95,620 421,472 Current Assets: supplies Prepaid Rent 14,230 8,856 Prepaid Insurance Merchandise Inventory Notes Receivable Interest Receivable Accounts Receivable Cash 8,856 361,866 183,290 993 494,952 125,214 1,198,257 Total Assets: 1,619,729