please answer part c thank you

ows. Prepare a income state ment (Enter negative amounts usingeither a negative sign pr eceding the number eg. - 45 or parentheses eg(45), Prepare a retained eamings sta tement. (List items tha tincreaseretrined earningsfirst) ConcordCompany Balance Sheet December 31,2022 Assets sets v 3hrtand Equpment Lla billteles and Stockholders' Equity \begin{tabular}{l} ibirks \\ \hline Payable \\ \hline \end{tabular} IndWages payate (b) Youranswer is correct. Prepa re the closing entries. (Credit occount titles arecutomatically indented when amount is entered. Do notinderit mianually if no entry is required, select "No Entry" for the cocount titles and arter Ofor theomounts.) 59800 Incone Summary (To close revenue account.) (To dose expense accountsi) RetamedEarning (To dose net income I (loss)i) Dec. 59900 31 Retaited Exrning: Divisenda (To close dividerids.). ited in the previous part.)