Exercise : 4 X 5pts = 20 pts On May 31, the Adjusted Trial Balance of my company shows the following accounts with their balances; Drawing 2,000 Utility expenses 1,000 Salaries expenses 11,000 Service Revenues 17,000 Capital 27,000 Interest Revenues 3,000 Question : Journalise the 4 steps Closing entries on May 31st 2021. -On may 31 2021, ABC Company is submitting the following accounts with their balances (22 Accounts in its Ledger). Note Receivable payable on June 2022 8,000 Cash Account payable 32,000 14,000 Land 18,000 Equity 37,000 Salaries expenses 24,000 Other Non Current liabilities 16,000 Service Revenue 41,000 Gaz expenses 1,500 Unearned Revenue 31,000 Account Receivable 28,000 prepaid Insurance 6,000 Drawing 3,500 Supplies 3,000 Note receivable on September 2021 5,000 Equipment 23,000 Accumulated Depreciation for Equipment 3,000 Merchandise Inventory 9,000 Furniture 20,000 Interest revenue 1,000 Accumulated depreciation for furniture 2,000 Questions : (16 pts) 1/Prepare the Income Statement on May 31" 2021 (9 pts) 2/Prepare the Owner's Equity Statement on May 31" 2021 3/Prepare a Classified Balance sheet on May 31" 2021 Each error costs 5 pts (65 pts) (10 pts) 4/Determine the Current ratio on May 31 2021