Listed below are the accounts taken from the December 31, 2020 adjusted trial balance of Arzadon Printing Press:

Accounts Receivable

260,000

Supplies Expense

710,000

Salaries Expense

2,270,000

Printing Revenues

8,130,000

Prepaid Insurance

320,000

Depreciation Expense

250,000

Supplies

160,000

Salaries Payable

310,000

Printing Equipment

5,520,000

Prepaid Advertising

70,000

Arzadon, Withdrawals

1,500,000

Interest Payable

20,000

Cash

160,000

Repairs Expense

10,000

Accounts Payable

190,000

Telephone Expense

20,000

Utilities Expense

80,000

Unearned Printing Revenues

210,000

Interest Expense

300,000

Arzadon, Capital

340,000

Notes Payable

2,500,000

Miscellaneous Expense

90,000

Required: income statement

Prepare closing entries