CRYSTAL COMPANY Income Statement For the year ended December 31,2021 Revenues =1980000-941 1911600 11000 23000 1945600 Net Sales Interest revenue Rent revenue Total Revenues Expenses Advertising expense Cost of goods sold Depreciation expense Freight out Insurance expense Interest expense Salaries expense Total Expenses Net profit 54000 840000 45300 25000 16000 10500 640000 1630800 314800 Prepare closing entries. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is Date Account Titles and Explanation Credit Dec 31 (To close income statement accounts with credit balances.) Dec 31 (To close income statement accounts with debit balances.) (To close income statement accounts with debit balances.) Dec 31 (To close Income Summary account.) Dec 31 (To close drawings.) e Textbook and Media Save for Later (62) The parts of this question must be completed in order. This part will be available when you complete the part above