11 Questions 16 to 18 are related to the following information: The adjusted trial balance at December 31 year-end for Lagou Printing Inc, a student print shop, is provided below: Lagou Printing Inc Adjusted Trial Balance at December 31, 2020 Cost of Sales Depreciation Expense Gross Profit Income Tax Expense Interest Expense Net Earnings Sales Revenue Utilities Expense Wages Expense $4,600 $145 $8,250 $1,731 $25 $5,194 $12,850 $360 $795 Additional information: $4,000 in dividends were declared and paid in 2020. Q16. Which of the following entries is NOT an appropriate closing entry? O Debit Income Summary $12,850; Credit Sales Revenue $12,850 Debit Sales Revenue $12,850; Credit Income Summary $12,850 Debit Income Summary $5,194; Credit Retained Earnings $5,194 None of the above Q17. Which of the following is an appropriate closing entry necessary to prepare for the 2020-year end? Debit Income Summary $5,194; Credit Retained Earnings $5,194 Debit Cost of Sales $4,600; Credit Income Summary $4,600 Debit Gross Profit $8,250; Credit Retained Earnings $8,250 O None of the above Q18. Which of the following represents the closing entry necessary for dividends declared for the 2020-year end? Debit Dividends Declared $4,000; Credit Retained Earnings $4,000 Debit Retained Earnings $4,000; Credit Dividends Declared $4,000 Debit Income Summary $4,000; Credit Dividends Declared $4,000 Debit Dividends Declared $4,000; Credit Income Summary $4,000 he