Presented below is income statement information of the Nebraska Corporation for the year ended December 31, 2016.

Sales revenue		728,000		Cost of goods sold		400,000
Salaries expense		99,000		Insurance expense		29,000
Dividend revenue		3,900		Depreciation expense		27,000
Miscellaneous expense		21,000		Income tax expense		44,000
Loss on sale of investments		8,900		Rent expense		19,000

Required:

Prepare the necessary closing entries at December 31, 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)