Part 2 Classified Balance Sheet and closing entries. 25 points Use the following adjusted Trial balance to do parts 1 and 2 of this problem. Hint: First calculate the net income and the ending retained earnings. The calendar year-end adjusted trial balance for Blessinger Co. follows: BLESSINGER CO. Adjusted Trial Balance December 31 Cash $112,000 Accounts receivable Prepaid rent 27,000 15,000 Prepaid Insurance 9,000 Office supplies 3,300 Office equipment 38,000 Accumulated depreciation-Equipment $3,200 Building 288,000 Accumulated depreciation-Building 42,000 Land 700,000