Post the closing entries to Income Summary and Retained Earnings accounts. $($Post entries in the order of journal entries presented in

the previous part.$)$Kingbird Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July $31,2024.$ The

following information has been taken from the adjusted trial balance:

All accounts have normal balances and total assets equal $$850,200.$ Kingbird has a $20\%$ income tax rate.