Presented below is an adjusted trial balance for Cowell Company, at December 31, 2019 Cash 20,000 Accounts payable 10,000 Accounts receivable 18,000 Notes payable 9,000 Prepaid insurance 15,000 Acc. depreciation--Equipment 3,000 equipment 14,000 Sales Revenues 32,000 Depreciation expense 7,000 Service revenue 10,000 Dividends 8,000 Retained earnings 15,000 Advertising expense 1,200 Unearned service revenue 12,000 Rent expense 800 Share capital-ordinary 12,000 Salaries and wages expense 5,000 Insurance expense 2.000 Cost of goods Sold Total 103,000 12.000 103,000 Required Prepare closing entries for December 31, 2019.1 Prepare Classified Statement of Balance Sheet 2