Closing Entry #3:Take the difference between the credit posted to Income Summary (Closing Entry #1) less the debit posted to Income Summary (Closing Entry #2) to close out the Income Summary account and permanently move NI to R.E.iv.Closing (THIS ANSWER SHOULD HAVE Net Income from Income Summary (the third closing entry) OF $618,185* AND *This should match Net Income reported on CY Inc. Stmt. (SOME OF MY NUMBERS MAY BE OFF IN MY AJE SO IF THAT IS THE CASE AND YOU CANT REACH THE CORRECT ANSWER JUST GET TO THE CLOSEST YOU CAN GIVEN THE INFORMATION.

Entry #4:Close out the dividend directly to R.E.

THANK YOU SO MUCH!!!!

12/31/19 AJES Debit Credit 25,365 7,700 81,675 13,828 Adjusted Balance 12/31/1912/31/19 Closing Debit Credit 1 Debit 92,063 913,780 54,827 7,700 1,188,485 12,846 16.063 160,500 19.690 220.000 876.418 332.983 348,791 741,123 493,951 192.200 1,169,343 19,690 84,658 24,800 General Ledger Account Nant Unadi. Balance 12/31/19 Debit Credit Cash and cash equivalents 92,063 Accounts Receivable 913,780 Allowance for doubtful accounts 23,462 Interest Receivable Inventory 1,270,160 Prepaid expenses 26,774 Other Current Assets 16,063 Investments 160,500 Fair Value Adjustment Notes Reccivable 220,000 Building 876,418 Equipment and furniture 332.883 Land 348,731 Accum Depr 656,465 Goodwill 493,951 Patents 217.000 Accounts Payable 1,169,343 Dividende payable Interest payable 41,310 Uncarncd Consulting Revenue 261,220 Waqes payable 81,350 Payroll taxes payable 8,850 Income tax payable Long term liabilities 694,700 Common Stock 920,000 Paid-in capital common stock 105,000 Treasury Stock 400,000 Retained Earnings 539,069 Dividends Accum Other Comprehensive Incom Sales revenue 9,253,346 Service revenue 1,158,785 Interest Revenue 14,100 Saleg returns 162,400 Sales discounts 269,662 Product cost of goods sold 5,364,590 Service cost of goods sold 570,811 Advertising 159,080 Bad debt expense 13,894 172,343 35,875 2.910 168,463 55.204 88,877 117,225 11.760 168.463 694,700 920,000 105,000 400,000 150,000 383,069 150,000 (150,000) 9.253.346 172,343 7.700 1,331,128 21,800 81,675 162,400 269,662 5,466,265 570,811 167,824 25,365 8,744 25,365 109,458 21,470 4.790 164,328 5,083 13.894 Depreciation and amortisation Professional Dua & pubscriptions Gaindlogs on disposal Income tax expense Insurance Interest expense Legoland accounting fees Miscellaneous Office expende Payroll taxes Property taxes Repair and maintenance Research and development Telephone Travel and entertainment Utilities Wage Salaries Officers Income Summary Unrealised Gain/Los-AFS 109,458 21,470 4.790 164,328 85,227 55,204 106,650 9.048 220.114 139,885 104.570 42,028 470.680 20,085 38.391 47,049 1,000.545 710,000 80.144 41,310 106,650 9,048 220.114 136.975 104.570 42,028 470.680 20.085 38.391 47,049 964.670 710,000 2,910 35,875 12/31/19 AJES Debit Credit 25,365 7,700 81,675 13,828 Adjusted Balance 12/31/1912/31/19 Closing Debit Credit 1 Debit 92,063 913,780 54,827 7,700 1,188,485 12,846 16.063 160,500 19.690 220.000 876.418 332.983 348,791 741,123 493,951 192.200 1,169,343 19,690 84,658 24,800 General Ledger Account Nant Unadi. Balance 12/31/19 Debit Credit Cash and cash equivalents 92,063 Accounts Receivable 913,780 Allowance for doubtful accounts 23,462 Interest Receivable Inventory 1,270,160 Prepaid expenses 26,774 Other Current Assets 16,063 Investments 160,500 Fair Value Adjustment Notes Reccivable 220,000 Building 876,418 Equipment and furniture 332.883 Land 348,731 Accum Depr 656,465 Goodwill 493,951 Patents 217.000 Accounts Payable 1,169,343 Dividende payable Interest payable 41,310 Uncarncd Consulting Revenue 261,220 Waqes payable 81,350 Payroll taxes payable 8,850 Income tax payable Long term liabilities 694,700 Common Stock 920,000 Paid-in capital common stock 105,000 Treasury Stock 400,000 Retained Earnings 539,069 Dividends Accum Other Comprehensive Incom Sales revenue 9,253,346 Service revenue 1,158,785 Interest Revenue 14,100 Saleg returns 162,400 Sales discounts 269,662 Product cost of goods sold 5,364,590 Service cost of goods sold 570,811 Advertising 159,080 Bad debt expense 13,894 172,343 35,875 2.910 168,463 55.204 88,877 117,225 11.760 168.463 694,700 920,000 105,000 400,000 150,000 383,069 150,000 (150,000) 9.253.346 172,343 7.700 1,331,128 21,800 81,675 162,400 269,662 5,466,265 570,811 167,824 25,365 8,744 25,365 109,458 21,470 4.790 164,328 5,083 13.894 Depreciation and amortisation Professional Dua & pubscriptions Gaindlogs on disposal Income tax expense Insurance Interest expense Legoland accounting fees Miscellaneous Office expende Payroll taxes Property taxes Repair and maintenance Research and development Telephone Travel and entertainment Utilities Wage Salaries Officers Income Summary Unrealised Gain/Los-AFS 109,458 21,470 4.790 164,328 85,227 55,204 106,650 9.048 220.114 139,885 104.570 42,028 470.680 20,085 38.391 47,049 1,000.545 710,000 80.144 41,310 106,650 9,048 220.114 136.975 104.570 42,028 470.680 20.085 38.391 47,049 964.670 710,000 2,910 35,875