course assessment_id= 165199_1&course_id= 24803_1&content_id= 2074535_1&step=null Remaining Time: 1 hour, 27 minutes, 15 seconds. Question Completion Status: Burbon Ltd. is a private company reporting under ASPE. The adjusted trial balance at its fiscal year end, December 31, 2021, is shown below: BURBON LTD. Adjusted Trial Balance December 31, 2021 Credit Debit $ 25,000 16,000 333,000 24,000 1,600 37,500 Cash Accounts Receivable Inventory Prepaid Expenses Supplies Equipment Accounts Payable Income tax payable Unearned Revenue Common shares (56,000 issued) Retained Earnings January 1, 2021) Dividends Sales Cost of goods sold Depreciation expense interest expense Wages expense insurance expense Income tax expense Rent expense $36.000 72,000 86,000 56,000 19,900 5,600 772.000 445,000 7500 1.000 72.000 1.100 57.600 15.000 51.041.900 $ 1.041.900 Click Save and Submit to save and submit. Click Save AL Answers to save all answers. Save All Answers O Type here to search 88 ENG US 202 DOLL 16,000 333,000 24,000 1,600 37,500 Accounts Receivable Inventory Prepaid Expenses Supplies Equipment Accounts Payable Income tax payable Unearned Revenue Common shares (56,000 issued) Retained Earnings (January 1, 2021) Dividends Sales Cost of goods sold Depreciation expense Interest expense Wages expense Insurance expense Income tax expense Rent expense $36,000 72,000 86,000 56,000 19.900 5,600 772,000 445,000 7500 1.000 72,000 1,100 57,600 15.000 $ 1,041,900 $ 1.041.900 Instructions a) Prepare a statement of retained earnings. b) Journalize the closing entries. Click Save and Submit to save and submit. Click Save All Answers to save all answers. O Type here to search DELL