The following adjusted trial balance accounts before closing in alphabetical order are for Matts Company as of December 31, 2020 for the year. The Income Tax rate is 40%.

Account Name	Balance
Accumulated DepreciationBuildings	$385,000
Accumulated DepreciationEquipment	$135,000
Accounts Payable	$29,100
Accounts Receivable	$38,800
Allowance for Doubtful Accounts	$6,600
Bad Debt Expense	$2,000
Building	$1,850,000
Cash	$12,400
Common Stock	$103,000
Cost of Goods Sold	$108,500
Depreciation ExpenseBuildings	$55,000
Depreciation Expense--Equipment	$23,000
Dividend	$28,000
Equipment	$348,000
Income Tax Expense
Income Taxes Payable	$7,000
Insurance Expense	$22,400
Interest Expense	$4,000
Interest Payable	$2,700
Inventory	$176,500
Long Term Note Payable	$1,570,000
Prepaid Rent	$18,400
Rent Expense	$11,700
Retained Earnings (Beginning)	$20,700
Salary Expense	$86,500
Sales Revenue	$249,800
Supplies	$105,500
Supplies Expense	$40,900
Unearned Revenue	$2,400

REQUIRED: Prepare in good form, Matts year end:

1. Income Statement
2. Statement of Changes in Retained Earnings
3. Balance Sheet Edit: How should I Approach my professor on this as the credit and debit are not equal