PART B: Closing Entries (Thinking) - 10 marks The adjusted account balances of Stine Company, at December 31, 2020 are as follows: Cash Accounts Receivable Prepaid Insurance $12.700 22,000 10,000 $12,000 7,000 14,000 Accounts Payable Notes Payable Accumulated Depreciation Equipment Service Revenue B. Stine, Capital Unearned Service Revenue 27,000 22.000 16.000 Equipment Depreciation Expense B. Stine, Drawings Advertising Expense Rent Expense Salary Expense Insurance Expense 40,000 7,000 1,500 400 1,800 2.000 600 a) Record the closing entries in the general journal below (8 marks): General Journal Account Titles & Explanation Date Debit Credit 1 BAT 4M1 b) Calculate the balance in B. Stine's capital account after the entries have been posted (2 marks): PART C: Calculations & Analysis (Communication) - 8 marks Selected financial information is available at December 31st for Dominic Co.: Cash Accounts Receivable Current Assets Current Liabilities 2020 $5460 3505 18,475 18,860 2019 $6645 3,470 19,035 17,305 a) Calculate the following (1 mark for each calculation-6 marks). 2020 2019 Working Capital Current Ratio Acid-Test Ratio b) Explain whether there was an improvement or deterioration in liquidity for Dominic Co. from 2019 to 2020 (2 marks)