Presented below is income statement information of the Nebraska Corporation for the year ended December 31, 2018.

Sales revenue		632,000		Cost of goods sold		360,000
Salaries expense		91,000		Insurance expense		21,000
Dividend revenue		3,100		Depreciation expense		19,000
Miscellaneous expense		13,000		Income tax expense		36,000
Loss on sale of investments		8,100		Rent expense		11,000

Required: Prepare the necessary closing entries at December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1.Record the entry to close the revenue and losses using the income summary.

2.Record the entry to close the expense accounts using the income summary.

3. Record the entry to close the income summary account.