Mackenzie Inc. uses a perpetual inventory system and has prepared the following adjusted trial balance on December 31, 2016:

Mackenzie Inc.

ADJUSTED TRIAL BALANCE

December 31, 2016

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	2,800.00
2	Accounts Receivable	3,300.00
3	Allowance for Doubtful Accounts		250.00
4	Inventory	6,500.00
5	Prepaid Insurance	800.00
6	Land	6,000.00
7	Buildings and Equipment	32,700.00
8	Accumulated Depreciation		15,100.00
9	Accounts Payable		3,100.00
10	Salaries Payable		420.00
11	Unearned Rent		360.00
12	Income Taxes Payable		2,525.00
13	Note Payable		5,000.00
14	Interest Payable		800.00
15	Common Stock		7,800.00
16	Retained Earnings		7,540.00
17	Dividends	1,200.00
18	Income Summary
19	Sales Revenue		35,490.00
20	Rent Revenue		1,320.00
21	Cost of Goods Sold	15,380.00
22	Selling Expenses	4,900.00
23	Administrative Expenses	2,800.00
24	Interest Expense	800.00
25	Income Tax Expense	2,525.00
26	Totals	79,705.00	79,705.00

	For classification purposes:
	Note payable is due July 1, 2020
	Interest payable is due July 1, 2020

	Required:
	Prepare in proper form for 2016 the companys:
	1. income statement
	2. retained earnings statement
	3. ending balance sheet
	4. closing entries in its general journal