The December 31, 2021, adjusted trial balance for the Blueboy Cheese Corporation is presented below. Credits Debits 14,600 345,000 14,500 54,000 640,000 Account Title Cash Accounts receivable Prepaid rent Inventory office equipment Accumulated depreciation Accounts payable Notes payable (due in six months) Salaries payable Interest payable Common stock Retained earnings Sales revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals 266,000 78,000 72,000 7,800 2,400 400,000 165,000 780,000 468,000 117,000 43,500 64,000 4,800 5,800 1,771,200 1,771,200 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