Exercises 135 3-15 (Lo8) (Missing Amounts) Presented belonw is financial information for two different coempanies Sales revenue Sales returns and allowances 590,000 5,000 Net sales Cost of goods sold Gross profit 56,000 23,000 Net income Instructions Compute the missing amounts E3-16 (LO5) (Closing Entries for a Corporation) Presented below are selected account balances for Homer Winslow Co.as of December 31, 2017. 60,000 75,000 45,000 18,000 12,000 15,000 410,000 Inventory 12/31/17 Common Stock Cost of Goods Sold Selling Expenses 225,700 16,000 38,000 30,000 Retained Earnings Income Tax Expense Sales Returns and Allowances Sales Discounts Sales Revenue Instructions Prepare closing entries for Homer Winslow Co.on December 31, 2017. (Omit explanations.)