USE THE FOLLOWING TRIAL BALANCE TO PREPARE THE CLOSING ENTRIES and THE FINANCIAL STATEMENTS (INCOME STATEMENT, STATEMENT OF OWNERS EQUITY, AND BALANCE SHEET). XAO CORPORATION TRIAL BALANCE JANUARY 31, 20X3 DEBITS CREDITS $26,300 3,200 15,000 $500 Cash Accounts receivbble Land Accounts payable Notes payable Capital stock Service revenues Advertising expense 10,000 25,000 12.000 2.000 Utilities expense 1,000 $47.500 $47,500