Bramble Company had the following account balances at year-end: Cost of Goods Sold $64,390, Inventory $17,730, Utilities Expense $31,320, Sales Revenue $122,250, Sales Discounts $1,390, and Sales Returns and Allowances $2,100. A physical count of inventory determines that merchandise inventory on hand is $12,680. They use the perpetual inventory system. Prepare closing entries. (List all debit entries before credit entries. Credit account titles are automatically indented when amount entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation (To close accounts with credit balances) (To close accounts with debit balances) (To close net income/(loss)) Debit Credit