1. BE.03.14 Preparing and Analyzing Closing Entries 2. BE.03.15.ALGO ? At December 31, the ledger of Aulani Company includes the following accounts, all having normal balances: Sales Revenue, $67,600; Cost of Goods Sold, $35,500; Retained Earnings, $20,000; Interest Expense, $3,200; Dividends (declared and paid), $5,000; Wages Expense, $8,000, and Interest Payable, $2,100. 3. BE.03.28 Required: 4. EX.03.29.ALGO 1. Prepare the closing entries for Aulani at December 31. If an amount box does not require an entry, leave it blank. 5. EX.03.33.ALGO Dec. 31 Sales Revenue 67,600 Retained Earnings 6. EX.03.39.ALGO 7. EX.03.44.ALGO Dec. 31 Retained Earnings Cost of Goods Sold 8. EX.03.47 Interest Expense 3,200 9. EX.03.52.ALGO Wages Expense 8,000 Dec. 31 Retained Earnings Dividends 5,000 2. How does the closing process affect Aulani's retained earnings? Increase of s Check My Work Previous Progress: 9/9 items