Mackenzie Inc. uses a perpetual inventory system and has prepared the following adjusted trial balance on December 31, 2019:

Mackenzie Inc.

ADJUSTED TRIAL BALANCE

December 31, 2019

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	2,000.00
2	Accounts Receivable	2,700.00
3	Allowance for Doubtful Accounts		250.00
4	Inventory	6,500.00
5	Prepaid Insurance	800.00
6	Land	5,200.00
7	Buildings and Equipment	31,000.00
8	Accumulated Depreciation		15,000.00
9	Accounts Payable		3,100.00
10	Salaries Payable		420.00
11	Unearned Rent		360.00
12	Income Taxes Payable		2,625.00
13	Note Payable		5,000.00
14	Interest Payable		750.00
15	Common Stock		9,000.00
16	Retained Earnings		6,770.00
17	Dividends	1,200.00
18	Income Summary
19	Sales Revenue		30,900.00
20	Rent Revenue		1,440.00
21	Cost of Goods Sold	15,040.00
22	Selling Expenses	4,800.00
23	Administrative Expenses	3,000.00
24	Interest Expense	750.00
25	Income Tax Expense	2,625.00
26	Totals	75,615.00	75,615.00

	For classification purposes:
	Note payable is due July 1, 2023
	Interest payable is due July 1, 2023
	Common Stock (1,500 shares)

Required:

Prepare in proper form for 2019 the companys: (1) income statement, (2) retained earnings statement, (3) ending balance sheet, and (4) closing entries in its general journal.