Record the entry to close the revenue accounts using retained earnings.

Record the entry to close the dividends account.

Record the entry to close the expense accounts using retained earnings.

Complete this question by entering your answers in the tabs below. Use the information in the worksheet to prepare a statement of shareholders' equity for 2024 Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the entry to close the revenue accounts using retained earnings. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Complete the worksheet below. 3. Prepare the necessary closing entrles assuming that adjusting entrles have been correctly posted to the accou Complete this question by entering your answers in the tabs below. Use the information in the worksheet to prepare a balance sheet as of December 31, 2024. Note: Amounts to be deducted should be indicated by a minus sign. Use the information in the worksheet to prepare an income statement for 2024. Excalibur Corporation sells video games for personal computers. The unadjusted trlal balance as of December 31, 2024, appears below. December 31 is the company's reporting year-end. The company uses the perpetual Inventory system. Information necessary to prepare the year-end adjusting entrles appears below. 1. The office equipment was purchased In 2022 and is belng depreclated using the stralght-Iine method over an elght-year useful life With no residual value. 2. Accrued salarles at year-end should be $3,900. 3. The company borrowed $27,900 on September 1, 2024. The principal is due to be repald in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of 10%. 4. The company debits supplies when supplies are purchased. Supplies on hand at year-end cost $360. 5. Prepald rent explred during the perlod is $13,400. Cash dividends pald to shareholders during the year amounted to $4,875. Required: 1. Complete the worksheet below. 2-a. Use the Information In the worksheet to prepare an Income statement for 2024. 2-b. Use the Information In the worksheet to prepare a statement of shareholders' equity for 2024. 2c. Use the Information In the worksheet to prepare a balance sheet as of December 31, 2024. 3. Prepare the necessary closing entrles assuming that adjusting entrles have been correctly posted to the accounts. Complete this question by entering your answers in the tabs below