Question 6, Prepare a classified multiple-step income statement in good form for First Shot Photography Store for their 2020 fiscal year. First Shot Photography Store Trial Balance For the year ended December 31, 2020 Account Debit Credit Accounts Payable $40,000 Accounts receivable $85,000 Accumulated amortization, office equipment 10,000 Accumulated amortization, store cash register 3,000 Advertising expense 3,500 Amortization expense, office equipment 17,000 Amortization expense, store cash register 7,000 Sales Discounts 1,800 Cash 14,000 Cost of goods sold 216,900 Equipment 115.000 Insurance expense 7,500 Interest expense 1,400 Screen, capital 303,000 Screen, withdrawals 2,100 Inventory 219,000 Notes payable 5,000 Rent expense, office 15,000 Rent expense, sales 5,000 Rent revenue 2,200 Salaries expense, office 13,000 Salaries expense, selling 12,000 Sales 405,000 Sales returns and allowances 20,000 Supplies 8,000 Supplies expense, store 5,000 $768,200 $768,200 MacBook Pro Listen Question 7. The adjusted trial balance of Sara's Photography follows: Sara's Photography Trial Balance December 31,2020 Debit Credit $800 1,400 300 9,000 $1,000 700 5,100 Cash Accounts receivable Office supplies Photography equipment Accumulated depreciation, photography equipment Accounts payable Sara Vegara, capital Sara Vegara, withdrawals Photography revenue Supplies expense Cleaning expense Repairs expense Developing expense Rental expense Total 1,800 11,000 500 100 50 1,850 2,000 $17,800 $17,800 REQUIRED: 1. Prepare the necessary closing entries at December 31. (4%) 2. What is the balance of Sara's capital account after the bookkeeper posts the closing entries? (1%) MacBook Pro