The December 31, 2021, adjusted trial balance for the Blueboy Cheese Corporation is presented below. Account Title Cash Debits 36,100 Credits Accounts receivable 315,000 Prepaid rent 11,500 Inventory 47,000 Office equipment 570,000 Accumulated depreciation 238,000 Accounts payable 66,000 Notes payable (due in six months) 51,000 Salaries payable 7,200 Interest payable 1,700 Common stock 400,000 Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense 135,000 720,000 432,000 108,000 34,500 Depreciation expense Interest expense Advertising expense Totals 57,000 3,400 4,400 1,618,900 1,618,900 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