9)

Presented below is income statement and dividend information of the Nebraska Corporation for the year ended December 31, 2021.

Sales revenue $692,000 Cost of goods sold $385,000

Salaries expense$96,000 Insurance expense26,000

Dividend revenue3,600 Depreciation expense24,000

Misc expense 18,000 Administrative expense41,000

Loss on sale of investments8,600 Rent expense16,000

Dividends11,000

Required:

Prepare the necessary closing entries at December 31, 2021