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I X Accounts payable $ 12,900 Interest expense 500 Accounts receivable 16,800 Note payable, long term 16,000 Accumulated depreciation, equipment 7,300 Other assets, long-term 13,700 Advertising expense 11,000 Prepaid expenses 6,000 Cash 17,200 Retained earnings, January 31, 2020 13,500 Common stock 4,300 Salary expense 26,100 Current portion of long-term note payable 1,500 Salary payable 3,300 Depreciation expense-equipment 1,100 Service revenue 92,500 Dividends declared Equipment 11,200 Supplies 3,900 42,600 Supplies expense 4,900 Unearned service revenue 3,700 Data table Requirements - 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Sunny Stream's closing entries at January 31, 2021. 2. A T-account for Retained Earnings has been set up for you. Post to that account. Then calculate Sunny Stream's net income for the year ended January 31, 2021. What is the ending balance of Retained Earnings? 3. Did Retained Earnings increase or decrease during the year? What caused the increase or the decrease? Print Done Requirement 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Sunny Stream's closing entries at January 31, 2021. (Record debits fest journal entries) Record the closing entries for Sunny Stream at January 31, 2021. Begin by closing the revenue account. Date (1) Jan 31 Next, close the expense accounts. Date (2) Jan 31 Journal Entry Accounts Debit Credit Journal Entry Accounts Debit Credit Now close the dividends account Date 3) Jan 31 Journal Entry Accounts Debit Credit Requirement 2. A. T-account for Retained Eamings has been set up for you. Post to that account. Then calculate Sunny Stream's net income for the year ended January 31, 2021. What is the ending balance of tamings? Post the beginning balance and closing entries to Retained Eamings in the T-account by selecting the respective posting references and then urdering the correct amourts Determine the ending balance Retained Earnings The net income for 2021 was Requirement 3. Did Retained Eamings increase or decrease during the year? What caused the increase or decrease? Retained Earnings during 2021 because

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