The December 31, 2018, adjusted trial balance for the Blueboy Cheese Corporation is presented below. Account Title Debits Credits Cash 22 , 780 Accounts receivable 338, 880 Prepaid rent 13 , 880 Inventory 51 , 880 Office equipmen t 618 , 880 Accumulated d eprec ia't ionoffice equipment 254, 80% Accounts pay-a ble T2, 808 Note payable (due in six months) 63,800 Salaries pay-a ble T, 50% Interest pay-a ble 2, 108 Common stock 488, 808 Retained earnings 158,800 Sales revenue 758, 808 Cost of goods sold 458,889 Salaries expense 112,509 Rent expense 39 , BBB Depreciation expen se 61 , BBB Interest expense 4,208 Advertising expense 5, 208 Totals 1,698,6w 1,593,6w | Required: 1-a. Prepare an income statement for the year ended December 31, 2018. 1-b. Prepare a classied balance sheet as of December 31, 2018. 1 Prepare the necessary closing entries at December 31, 2018. 0 Answer is not complete. Complete this question by entering your answers in the labs below. REE] 1A REE] IB Rec] 2 Prepare a classied balance sheet as of December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) RBI: 1A RBI] IB Req 2 Prepare a classied balance sheet as of December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.} Assets 9 Current assets 0 Cash 0 $ 22,?00 0 Accounts receivable a 330,000 a Prepaid rent a 13,000 0 Inventory 0 51,006 a Total current assets 0 415.?00 Property and equipment a Ollice equipment a $ 610,000 9 Less: Accumulated depreciation a 355,000 a Total assets 0 5 THEN Liabilities and Shareholders' Equity 0 Current liabilities 0 Accounts payable 0 $ H.006 a Note payable 0 63,000 0 Salaries payable 0 1.500 0 Interest payable 0 2,106 a Total current liabilities a 144,600 Sh areholders' equity 0 Common stock a 5 400,000 a Retained eamings a Total shareholders' equity 0 550,000 Total liabilities and shareholders equity 0 $ 694.500