Please show all necessary Closing Journal Entries.

is a corporation which started five years ago. The company's adjusted balances as of 12-31-15 Gibson Inc. (the end of its accounting year) are as follows. All accounts have normal balances and have been adjusted but the closing entries have not been made Prepare an income statement, statement of Owner's Equity, a Balance Sheet, and show all necessary Closing Entries. Ignore any income tax effects Be sure to show labels, totals, etc 40,000 25,000 48,000 40,000 10,000 Accounts Receivable Accumulated Depreciation, Building Common Stock (Capital/Equity Dividends (declared and paid).. Long Term Notes Payable Prepaid Rent Rent Expense 4,000 24,000 20,000 40,000 1,000 .. 12 0,000 4,000 8,000 5,000 Salaries Payable Service Revenue Supplies Expense. Unearned Service Revenue Utilities Expense