Ice Crystal Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end May $31,2023.$ The following information has been taken from the adjusted trial balance:

Cash $119,000$

Inventory $402,000$

Sales $1,240,000$

Interest Expense $35,000$

Notes Payable $126,000$

Unearned Revenue $33,000$

Retained Earnings $($June $1,2022)12,500$

Salaries Expense $110,000$

Supplies Expense $25,000$

Accounts Payable $45,000$

Income tax Payable $0$

Common shares $162,825$

Accounts receivable $115,825$

Cost of goods sold $800,000$

Insurance expenses $12,500\_\_\_\_\_\_\_\_$

$$1,619,325$ $$1,619,325$

For the fiscal year, Ice Crystal Inc. has a tax rate of $13\%$

Instructions $-$ Please answer the below three questions. Note: USE Excel for linking the numbers from the above trial balance $($link by using $=$ and then clicking on the cell$).$ Also use formulas in Excel for any calculations.

a$)$ Prepare a multi$-$step income statement and the required journal entry to adjust income tax expense.

b$)$ Prepare a statement of retained earnings. Assume no dividends were declared during the year.

c$)$ Prepare closing entries.