Please help whith whole question 4

uestion 4 Why are closing entries required for Income Statement accounts? Why don't we prepare closing entries for Balance Sheet accounts? b. What is the purpose of T-accounts? c. The adjusted trial balance for China Tea Company at December 31, 2018, is presented belo Debit Credit Cash Accounts reccivable Prepaid rent Inventory 10,500 150,000 5,000 25,000 300,000 Accounts payable Notes payable - due in three months Salaries payable Interest payable Common stock Retained earnings Sales revenue Costs of goods sold Salaries expense 125,000 30,000 30,000 4,000 1,000 200,000 50,000 400,000 180,000 120,000 15,000 30,000 2,000 2,500 Rent expense Interest expense Advertising expense Totals 840,000 840,000 Prepare the closing entries for China Tea Company for the year ended December 31, 2018