For the year ended December 31, 2021, Coronado Enterprises Ltd. had the following revenues and expenses: Sales, $ 780,000; Cost of Goods Sold, $ 475,000; Operating Expenses, $ 155,000; and Income Tax Expense, $ 32,500. The company also declared $ 25,000 of dividends to the common shareholders on December 27 to be paid on January 15, 2022. Prepare closing entries for Coronado on December 31, 2021. (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 titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (To close revenue account.) Dec. 31 (To close expense accounts.) Dec. 31 (To close Income Summary.) (To close revenue account.) Dec. 31 (To close expense accounts.) Dec. 31 (To close Income Summary.) Dec. 31 (To close dividends.)