The December 31, 2021, adjusted trial balance for the Blueboy Cheese Corporation is presented below.

Account Title	Debits		Credits
Cash	65,800
Accounts receivable	255,000
Prepaid rent	5,500
Inventory	36,000
Office equipment	460,000
Accumulated depreciation			194,000
Accounts payable			42,000
Notes payable (due in six months)			18,000
Salaries payable			6,100
Interest payable			600
Common stock			400,000
Retained earnings			75,000
Sales revenue			610,000
Cost of goods sold	366,000
Salaries expense	91,500
Rent expense	16,500
Depreciation expense	46,000
Interest expense	1,200
Advertising expense	2,200
Totals	1,345,700		1,345,700

Required: 1-a. Prepare an income statement for the year ended December 31, 2021. 1-b. Prepare a classified balance sheet as of December 31, 2021. 2. Prepare the necessary closing entries at December 31, 2021.