Prepare closing entries from the following end-of-period spreadsheet. Refer to the Chart of Accounts for exact wording of account titles. Austin Enterprises End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 26,500 26,500 Accounts Receivable 7,000 7,000 Supplies 1,000 1,000 Equipment 18,500 18,500 Accumulated Depr.-Equip. 5,000 5,000 Accounts Payable 11,000 11,000 Wages Payable 1,000 1,000 Common Stock 6,000 6,000 RetainedEarnings 2,000 2,000 Dividends 2,000 2,000 Fees Earned 59,500 59,500 Wages Expense 19,000 19,000 Rent Expense 7,000 7,000 Depreciation Expense 3,500 3,500 Totals 84,500 84,500 29,500 Net Income 30,000 59,500 59,500 55,000 25,000 30,000 59,500 55,000 55,000