Presented below are selected account balances for Cobra Co, as of December 31, 2020. Inventory $57,046 Cost of Goods Sold $262,653 49,852 76,110 Selling Expenses Share Capital Ordinary 52,159 Retained Earnings 45,580 Administrative Expenses Dividends 13.005 5,307 Dividends Payable 9,486 Sales Discounts 19,012 Sales Returns and Allowances 337,158 Sales Revenue 13,615 Unearned Revenue 23,480 Dividends Revenue 31,762 Prepaid Insurance INSTRUCTIONS Assuming that the company has already closed all credit and debit balance accounts to Income Summary, prepare the remaining de entries for Cobra Co. on December 31, 2020 To close income summary: Dec 31 Retained Earnings Income Summary To close dividends: bec. 31 The balance of the Retained Earnings account after closing all temporary accounts is: Retained Earnings