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. Req 1A Req 1B Reg 2 Prepare an income statement for the year ended December 31 BLUEBOY CHEESE CORPORATION 0 Income Statement For the Year Ended December 31, 2021 Sales revenue Cost of goods sold (Gross profit Operating expenses Advertising expense Salaries expense Rent expense Depreciation expense 0 0 Total operating expenses Operating income (Other expenses Interest expense Net income $ Reg 1A Req 1A Ret 1B Reg 2 Prepare a classified balance sheet as of December 31, 2021. (Amounts to be BLUEBOY CHEESE CORPORATION Balance Sheet At December 31, 2021 Assets Current assets Cash Accounts receivable Prepaid rent Inventory 0 $ 0 Liabilities and Shareholders' Equity 0 0 0 View transaction list View Journal entry worksheet No Date General Journal Debit Credit 1 December 31, 2021 Sales revenue Retained earnings 2 December 31 2021 Retained earnings Advertising expense Depreciation expense Interest expense Cost of goods sold Salaries expense Rent expense