Dr. Assignment 1 (10 marks) Ch 4 Closing Entries The completed financial statement columns of the worksheet for Ramadan Inc. are shown as follows (amounts in AED). Worksheet For the Year Ended December 31, 2020 Account Titles Income Statement Statement of Financial Position CE Or Cr. Cash 0.800 Accounts Receivabile 10.800 Prepaid insurance 2.100 Equipment 24 000 Accu Depection Equip 4.200 Accounts Payable 9.000 Saries and Wages Payable 2.400 Owen Capital 19.500 Owne Drawings 000 Service Reven 80 000 Menance and Heat Expen 700 Depreciation Expense 2.000 nisur 1500 Send Expert 10.000 UE 1.400 Ti 7 you 57.400 35.100 Net 12.00 22.300 00 600 2 7400 Prepare the closing entrin Ramadan Enterprise did not make any additional investments during the year marks) b. Pout the closing atnes (Ledger) and underline and balance the accounts Income summary and owner's Capital (2 marks) s. Par post closing tral balance (a mark) . Prepare income statement an owner's equity statement and classified intentent of the petition, markt)