Larkspur Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July 31, 2021. The following information has been taken from the adjusted trial balance: Accounts payable $ 25,000 Interest expense $6,300 Cash dividends-common 63,000 Notes payable 106,500 Common shares 219,000 Retained earnings (Aug. 1, 2020) 331,800 Cost of goods sold 319,500 Salaries expense 143,500 Dividends payable 14,500 Sales 666,000 Income tax expense 33,500 Supplies expense 11,000 Income tax payable 4,000 Unearned revenue 12,000 All accounts have normal balances and total assets equal $ 802,000. Larkspur has a 20% income tax rate. (51) Prepareclosing entries. (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 andenter Ofor the amounts.) Date Account Titles and Explanation Debit Credit July 31 (To close revenue account.) July 31 (To close expense accounts.) July 31 (To closeIncome Summary.) July 31 (To close dividends.)