Credit 50.000 510,000+ The following information (in 000) is available for LION Company:- Debit Retained Earnings Dividends \ 35,000.- Sales Revenue Sales Returns and Allowances 20,000 Sales Discounts 7,000. Cost of Goods Sold 357,000 Freight-Out 2,000- Advertising Expense 15,000. Interest Expense 19,000 Salaries and Wages Expense 45,000- Utilities Expense 18,000 Depreciation Expense 7,000 Interest Revenue 25,000 Instructions Using the above information, prepare the closing entries for LION Company