The December 31, 2021, adjusted trial balance for the Blueboy Cheese Corporation is presented below. Credits Debits 17,300 340,000 14,000 53,000 630,000 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 262,000 76,000 69,000 7, 700 2, 300 400,000 160,000 770,000 462,000 115,500 42,000 63,000 4, 600 5, 600 1, 747,000 1, 747,000 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. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Req 2 Prepare an income statement for the year ended December 31, 2021. BLUEBOY CHEESE CORPORATION Income Statement For the Year Ended December 31, 2021 At December 31, 2021 Assets Liabilities and Shareholders' Equity Req 1A Req 1B Reg 2 Prepare the necessary closing entries at December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry to close the revenue accounts using the income summary. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the entry to close the expense accounts using the income summary. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal