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NICKS HAD the following balances in its general ledger accounts. 2. Side KICKS HAD the following balances Sales Revenues Interest Revenue Cost of Goods Sold

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NICKS HAD the following balances in its general ledger accounts. 2. Side KICKS HAD the following balances Sales Revenues Interest Revenue Cost of Goods Sold Operating expenses Income Tax expense of Dividends $800,000 33,500 $500,000 65,000 35,000 18,000 Required: Prepare the closing Entries at year end using Income & Expense Summary Account and other related Accounts

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