CRYSTAL COMPANY Income Statement Year Ended December 31, 2021 Revenues Net Sales 1902300 Interest Revenue MSS 11000 Rent Revenue 24000 Total Revenues 1937300 Expenses Cost of Goods Sold 850000 Advertisine Expense 56000 Freight Out 26000 i Depreciation Expense 45200 i Insurance Expense 16000 i Interest Expense 10200 Salaries Expense 630000 i Total Expenses 1633400 Net Profit/Loss! $ 303900 e Textbook and Media Solution Attempts: 3 of 3 used (51) Prepare closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account tities and enter for the amounts.) Debit Credit Date Account Titles and Explanation Dec. 31 V (To close income statement accounts with credit balances.) Dec. 31 (To close income statement accounts with debit balances.) Dec. 31 (To close Income Summary account.) Dec. 31 (To close drawings.)