Data Table The adjusted trial balance of Silver Sign Company follows: ll (Click the icon to view the adjusted trial balance.) Requirements . Assume Silver Sign Company has a January 31 year-end. Journalize Silver's closing entries at January 31 2. How much net income or net loss did Silver Sign Company eam for the year ended January 31? How can you tel? Silver Sign Company Adjusted Trial Balance January 31, 2018 Requirement 1. Assume Silver Sign Company has a January 31 year-end. Journalize Silver's closing entries at January 31 Balance First, close revenues. Account Title Debit Credit Date Accounts and Explanation Debit Credit Cash S 15,200 31 Jan. Office Supplies 1,800 800 Prepaid Rent Equipment 56,000 Accumulated Depreciation-Equipment S 5,300 3,900 Accounts Payable 500 Next, close the expense accounts. Salaries Payable Unearned Revenue 3,500 Date Accounts and Explanation Debit Credit 5,100 Notes Payable (long-term) Jan. 31 Common Stock 45,350 Dividends 1,150 Service Revenue 17,500 Salaries Expense 3,500 ent Print Done hoose from any list or enter any number in the input fields and then continue to the next question. The adjusted trial balance of Silver Sign Company follows: Data Table EEl (Click the icon to view the adjusted trial balance.) Requirements 1. Assume Silver Sign Company has a January 31 year-end. Journalize Silver's closing entries at January 31 2. How much net income or net loss did Silver Sign Company ean for the year ended January 31? How can you tell? count Titile Cash S 15,200 Date Accounts and Explanation Debit Credit 1,800 Office Supplies Jan. 31 800 Prepaid Rent Equipment 56,000 S 5,300 Accumulated Depreciation-Equipment 3,900 Accounts Payable Salaries Payable 500 3,500 Unearned Revenue Finally, close the Dividends account. 5,100 Notes Payable (long-term) Date Accounts and Explanation Debit Credit Common Stock 45,350 31 Jan. 1,150 Dividends Service Revenue 17,500 Salaries Expense 3,500 Rent Expense 1,000 300 Depreciation Expense-Equipment Requirement 2. How much net income or net loss did Silver Sign Company earn for the year ended January 31? How can you tell? Supplies Expense 400 1,000 fWe know this because Utilities Expense The company had 81,150 S 81,150 by this amount and this was the balance in when it was closed Total Choose from any list or enter any number in the input fields and then continue to the next question. Print Done