Our company, Georgio Von Asbury Park, just had a killer of a year in profits. The end of year Balance Sheet has been provided to you. We need to close this year and prepare for the new year.

A$.$ Write the Journal Entry to close the current year and start a new year.

B$.$ Post the Journal Entry to the End of Year Balance Sheet to show the End of year adjustments.

$($Hint$.$ Use the AJE columns to post the Journal Entries. You do not have to carry out the Ending Balances.$)$