5. Prepare the closing entries at December 31. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record entry to transfer revenues to income summary. Note: Enter debits before credits. Savory Ltd. is completing the information-processing cycle at its fiscal year-end, December 31. Following are the correct account balances at December 31, both before and after the adjusting entries. Journal entry worksheet 4 Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record entry to transfer income or loss to retained earnings. Note: Enter debits before credits. 1. Compare the amounts in the columns betore and atter the adjustng entries to reconstruct the adjustng entries made at the er the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record service fees earned, but not yet collected Note: Enter debits before credits. Journal entry worksheet Record advertising expense for the current year; to be paid in the next year. Note: Enter debits before credits. Journal entry worksheet Record entry to transfer expenses and taxes to income summary. Note: Enter debits before credits. 3. Compute the earnings per share, assuming that 4,000 shares are outstanding all year. (Round the final answer to 2 decimal places.) 4. Compute the net profit margin ratio and the return on equity, assuming that contributed capital did not change during the year. (Round percentage answer to 1 decimal place (i.e., 0.124 should be entered as 12.4).) 2-a. Compute the amount of net earnings, assuming that it is based on the amounts ( a ), before adjusting entries, and (b), after adjusting entries. 2-b. Which net earnings amount is correct? Amounts after adjusting entries Amounts before adjusting entries