I need to understand how to do balance sheet and post closing trial balance using the information on the additional sheets.

Name Balance Sheet Fitchburg, Inc. Statement of Changes in Shareholders' Equity For Month Ended May 31, 20XX Fitchburg, Inc. Balance Sheet May 31, 20XXFitchtown, Inc. Income Statement For Month Ended May 31, 20XX Sales Revenue 167.422.00 Less: Sales Return and Allowance [175.00] Sales Discount (350.00) 525.00) Net Sales 166.897.00 Less: Cost of Goods Sold [99,910.00)1 Gross Margin 56.987.00 ess Operating Expenses: Salaries expense -office 6300.00 Utilities expense- electric 1283.00 Depreciation Expense - office equipment 329.00 Office supplies expense 744.00 Insurance expense 553.00 Rent expense- office space 742.00 Total office expenses 3,951.00 Selling Expenses Store supplies expense 472.00 Depreciation expense - store equipment 567.00 Sales salaries expense 10640.00 Rent Expense - Selling space 2968.00 Total Selling Expenses 14.647.00 Total Operating Expenses (24.598.00) Jet Operating Income 42,389.00CLOSING ENTRIES Account Titles and Explanation Debit Credit Sales Revenue $ 167,422.00 Income Summary $ 167,422.00 Income Summary $ 100.435.00 Sales Returns and Allowances 175.00 Sales Discounts 350.00 Cost of goods sold $ 99,910.00 Income Summary $ 24,598.00 Depreciation expense - office equipment 329.00 Depreciation expense - storoe equipment 567.00 Office supplies expense 744.00 Store Supplies expense 472.00 Insurance expense 553.00 Rent Expense - selling space 2,968.00 Rent Expense - office space 742.00 Salaries expense - sales 10,640.00 salaries expense - office 6,300.00 Utilities expense - electric 1,283.00Balance Sheet & Unadjusted Adjusted Statement of Trial Balance Adjustments Trial Balance Income Stateme Owner's Equity Account Titles Or. Cr Or. Cr. Dr. Cr. Dr. Cr Dr. Cr Cash 55,455 55,455 55,455 Accounts receivable 31,970 31,970 31,970 Merchandise inventory 54,660 54,660 54,660 Office supplies 1,248 744 504 504 Store supplies 3,104 472 2.632 2.632 Prepaid insurance 1,659 653 1,106 1,106 Office equipment 5,720 5,720 5,720 Accumulated depreciation-Office Equipment 358 329 987 Store Equipment 16,580 16,580 16,580 Accumulated depreciation-Store Equipment 2,268 567 2,835 2,835 Accounts payable 96,882 96,882 96,882 Common Stock 20,000 20,000 20,000 Paid-in-Capital, Excess of Par 35,000 35,000 35,000 Retained Earnings 77.534 77.534 77,534 dividends 7000 7000 7000 Sales revenue 167.422 167.422 167.422 Sales returns and allowances 175 175 175 Sales discounts 350 350 350 Cost of Goods Sold 99,910 99,910 99,910 Depreciation expense - Office Equipment 329 329 329 Depreciation expense - Store Equipment 567 567 567 Office supplies expense 744 744 744 Store supplies expense 472 472 472 Insurance expense 553 653 553 Cient expense -Selling space 2,968 2,968 2,968 Cient expense -Office space 742 742 742 Salaries expense- Sales 10,640 10,640 10,640 Salaries expense- Office 5,300 6,300 3,300 Utilities expense - Electric 283 283 1283 Totals 399,764 399,764 2,665 2.665 400,660 400,660 125,032 167.422 275,627 233,238 Net Income 42,389 42,389 167,422 167,422 275 627 275,627