Exercise 2-14 (Algo) Closing entries [LO2-8] Presented below is income statement information of the Schefter Corporation for the year ended December 31, 2021 Sales revenue $ 456,000 Salaries expense 67,500 Interest revenue 5, 400 Advertising expense 9,750 Gain on sale of investments 7, 100 Cost of goods sold 250,800 Insurance expense 11, 150 Interest expense 3, 200 Income tax expense 30, 500 Depreciation expense 17,090 Required: Prepare the necessary closing entries at December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet