At the end of its first year of operation, Goss Corporation has $1,028,300 of common stock and net income of $221,400. Prepare the closing entry for net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (To close Income Summary and transfer net income to retained earnings) Prepare the stockholders equity section at year-end. GOSS CORPORATION Balance Sheet (partial) $ $