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

Account Title	Debits		Credits
Cash	57,300
Accounts receivable	280,000
Prepaid rent	8,000
Inventory	41,000
Office equipment	510,000
Accumulated depreciation			214,000
Accounts payable			52,000
Notes payable (due in six months)			33,000
Salaries payable			6,600
Interest payable			1,100
Common stock			400,000
Retained earnings			105,000
Sales revenue			660,000
Cost of goods sold	396,000
Salaries expense	99,000
Rent expense	24,000
Depreciation expense	51,000
Interest expense	2,200
Advertising expense	3,200
Totals	1,471,700		1,471,700

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.