Cost of Goods Sold 24,700 The following information is available for Dalek Corp for the fiscal year ended December 31, 2021. Supplies Expense 900 Utilities Expense 2,600 Dividends 12,000 Equipment 35,900 Depreciation Expense 3,000 Accounts Payable 4,220 Retained Earnings, Jan 1st 17,940 Service Revenue 81,100 Rent Expense 10,800 Rent Revenue 8,500 Income Tax Expense 5,000 Common Shares 10,000 Supplies: 1,500 Cash 5,060 Short Term Investments 20,000 Accounts Receivable 17,100 Bank Loan Payable 21,800 Accumulated Depreciation 6,000 Interest Expense 2,000 Interest Payable 1,000 Salaries Expense 21,500 Additional Information: Dalek started the year with $6,000 of common shares and issued $4,000 during the year. Required: 1. Prepare the closing entries for Dalek Corp for the fiscal year ended December 31, 2021.