The December 31, 2024, adjusted trial balance for the Blueboy Cheese Corporation is presented below. 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 Debits Credits $ 57,300 280,000 8,000 41,000 510,000 $ 214,000 52,000 33,000 6,600 1,100 400,000 105,000 660,000 396,000 99,000 24,000 51,000 2,200 3,200 $ 1,471,700 5 1,471,700 Totals Required: 1-a. Prepare an income statement for the year ended December 31, 2024. 1-b. Prepare a classified balance sheet as of December 31, 2024. 2. Prepare the necessary closing entries on December 31, 2024. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2 Prepare an income statement for the year ended December 31, 2024. BLUEBOY CHEESE CORPORATION Income Statement For the Year Ended December 31, 2024 Sales revenue Cost of goods sold Gross profit Operating expenses: Salaries expense $ 99,000 Rent expense 24,000 Depreciation expense 51,000 Advertising expense 3,200 Total operating expenses $ 660,000 (396,000) 264,000 177,200