Mackenzie Inc. uses a perpetual inventory system and has prepared the following adjusted trial balance on December 31, Year 1 : For classification purposes: Note payable is due July 1 , Year 5 Interest payable is due July 1 , Year 5 Common Stock (1,500 shares) Required: Prepare in proper form for Year 1 the company's: (1) income statement, (2) retained earnings statement, (3) ending balance sheet, and (4) closing entries in its general journal. Mackenzie Inc. uses a perpetual inventory system and has prepared the following adjusted trial balance on December 31, Year 1 : For classification purposes: Note payable is due July 1 , Year 5 Interest payable is due July 1 , Year 5 Common Stock (1,500 shares) Required: Prepare in proper form for Year 1 the company's: (1) income statement, (2) retained earnings statement, (3) ending balance sheet, and (4) closing entries in its general journal