Preparing Financial Statements and Closing Entries Hayley Inc. prepared the following adjusted trial balance as of December 31. a. Prepare the income statement for the year ended December 31. b. Prepare closing entries as of December 31 . Use the Income Summary account for closing. - Note: Do not use negative signs with any of your answers. Income Statement Journal Entries Account Name Dr. Cr. Hayley Inc. prepared the following adjusted trial balance as of December 31 . a. Prepare the income statement for the year ended December 31. b. Prepare closing entries as of December 31 . Use the Income Summary account for closing. - Note: Do not use negative signs with any of your answers. Income Statement Journal Entries