Q.4. Following is the Adjusted Trial Balance of Alpha Corp. Alpha.Corp... Adjusted Trial Balance December 31, 2020 Cash Account Receivable Prepaid Rent Unexpired insurance Supplies Equipment Accumulated Depreciation: Equipment Notes Payable Accounts Payable Salaries Payable Income taxes payable Unearned Gym Revenue Capital Stock Retained earnings Dividends Gym. Revenue earned Salary Expense Supply Expense Rent Expense Insurance Expense Advertising Expense Depreciation expense: equipment Interest expense Income tax expense Rs.150,000 9,400 50,000 7200 500 18,000 Rs.7,200 10,000 3,200 51,000 6,000 8,800 100,000 40,000 6,000 143900 85,000 3900 12,000 1,900 500 1,800 900 23,000 Rs.370,100 a) Prepare the necessary closing entries for December 31, 2020 b) Prepare an post closing trial balance dated December 31, 2020 c) What is the purpose of closing? Rs.370,100