Preparing and Analyzing Closing Entries At December 31, the ledger of Aulan Company includes the following accounts, all having normal balances: Sales Revenue, $76,400; Cost of Goods Sold, 540,100; Retained Earnings, $20,000; Interest Expense, $3,200; Dividends (declared and poid), $5,000; Wages Expense, $8,000, and Interest Payable, $2,100, Required: 1. Prepare the closing entries for Aulani at December 31. 1 an amount box does not require an entry, leave it blank Dec 31 Dec. 31 Dec. 31 I 2. How does the closing process affect Auslans retained earnings? of Ched My Work Previous