Novak Company Worksheet For the Year Ended December 31, 2022 Income Statement Balance Sheet Account No. Account Titles Dr. Cr. Dr. Cr. 101 Cash 9,000 112 10,900 130 2.600 157 23.700 158 4,600 201 8.800 212 2,200 19,200 311 320 8,500 332 Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Dividends Service Revenue Maintenance and Repairs Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Utilities Expense Totals Net Income 19,500 400 60,300 622 1,800 711 2,900 1,700 722 726 30,000 732 1,500 37.900 60,300 65.700 43,300 22.400 22.400 Totals 60,300 60,300 65.700 65,700 (b) Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor 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 net income / (loss).) Dec. 31 (To close dividends.) eTextbook and Media List of Accounts