please help asap on the image with parts 2&3 net income of the year and correct me if im wrong on any of the ones i answered as simple as possible. thank you
The adjusted trial balance of Armatrong Corporation at December 31 shows that sales revenue for the yoar was $555,000 and othar revenue was $41,000. Cost of gocds sold for that same period was $280,000, while other expenses totaled $235,000. The corporation declared and paid dividends of $10,000 during the year. The balance of retained aarnings betere docing entries was 5495,000 . Read the teguirements 1. Propare the ciosing entries for revenues, expenses, and dividends for the yoar, Frootd debits fint, then credits. Exelude explanabions fram any jeumal enties) Begin by recording the entry to ciose cut the revenut accounts. Requirements 1. Prepare the cboing ectias for revanues, expenses, and dividends for the year 2. What was nat inecme for the year? Gose out me expense accourta. 1. What is the encing balance of recanod eamings ater the elosing entries are postad? The adjusted trial balance of Armstrong Corporation at December 31 shows that sales revenue for the year was was $280,000, while other expenses totaled $235,000. The corporation declared and paid dividends of $10,000 di $495,000. Read the requirements. Close out the expense accounts. Close out the Dividends account. 2. What was net income for the year? Select the formula and enter the amounts to determine net income for the year. The adjusted trial balance of Armstrong Corporation at December 31 shows that sales revenue for the year was was $280,000, while other expenses totaled $235,000. The corporation declared and paid dividends of $10,000d $495,000 Read the requirements. Close out the expense accounts. Close out the Dividends account. 2. What was net income for the year? Select the formula and enter the amounts to determine net income for the year. 2. What was net income for the year? Select the formula and enter the amounts to determine net income for the year: 3. What is the ending balance of retained earnings after the closing entries are posted? Select the formula and enter the amounts to determine the ending balance of rotained earnings after the closing entries are posted