Presented below is income statement information of the Schefter Corporation for the year ended December 31, 2021. Cost of Sales revenue Salaries expense Interest revenue Advertising expense Gain on sale of investments of goods sold Insurance expense Interest expense Income tax expense Depreciation expense $ 456,000 67,500 5,400 9,750 7,100 250,800 11, 150 3,200 30,500 17,000 Required: Prepare the necessary closing entries at December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) X: 1 Record the entry to close the revenue accounts. > 2 Record the entry to close the expense accounts