The following information was taken from the adjusted trial balance for Daffy Duck Company at the end of 2020: Accounts Receivable Advertising Expense Equipment Cash $50,600 $7,000 $245,200 $14.000 Notes Payable (due February 1, 2022) Prepaid Expense Daffy Duck, Capital Interest Expense Amortization Expense Notes Payable (due December 31, 2021) Salaries Expense $30,000 $8,000 $318,800 $2,400 $16,000 $8,000 $240,000 Salaries Expense Rent Expense Supplies Expense Daffy Duck, Withdrawals Accounts Payable Unearned Revenue Service Revenue Supplies Accumulated Amortization $240,000 $106,000 $ 163,000 $15,000 $34,800 $40,000 $599,600 $204,000 $40,000 Required: (a) Prepare the closing entries for 2020. (5 marks) (b) Prepare the statement of owner's equity for 2020, in good form. (5 marks) (c) Prepare the company's classified Balance Sheet for 2020, in good form