The following is information from Crystal Company's adjusted trial balance at December 31, 2017:

Instructions
(a) Prepare a single-step income statement.
(b) Prepare closing entries and a post-closing trial balance.

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Debit Credit Cash Notes receivable Merchandise inventory Equipment Accumulated depreciation-equipment Unearned revenue Notes payable s 75,700 100,000 70,000 450,000 s 135,000 8,000 175,000 235,000 L. Crystal, capital L. Crystal, drawings 150,000 Interest revenue Rent revenue Sales Advertising expense Cost of goods sold Depreciation expense 10,000 24,000 1,980,000 Freight out Insurance expense Interest expense Salaries expens Sales discounts Sales returns and allowances 55,000 851,500 45,000 25,000 15,000 10,500 650,000 9,900 59,400 2,567,000 S2,567,000