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The December 31, 2021, 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 Totals Debits Credits 20,000 335,000 13,500 52,000 620,000 258,000 74,000 66,000 7,600 2,200 400,000 155,000 760,000 456,000 114,000 40,500 62,000 4,400 5,400 1,722,800 1,722,800 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. Reg 1A Req 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 Reg 1A Reg 1B Reg 2 Prepare a classified balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) BLUEBOY CHEESE CORPORATION Balance Sheet At December 31, 2021 Reg 1A Reg 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 1 2 2 > 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 Reg 1A Reg 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 expense accounts using the income summary. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021

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