(1) The accounts shall be closed annually on December 31 and a balance sheet of that date promptly taken therefrom. On or before April 1 following, such balance sheet, together with such other information as the Public Utility Commission shall prescribe, verified by an officer of the telecommunications utility, shall be filed with the commission.
(2) The commission may examine and audit any account. Items shall be allocated to the accounts in the manner prescribed by the commission.