Registration Department Program Maps Student Services Academics Career Department The following closing entries were prepared for Whirlybird Products Inc. at December 31, 2019, the end of its fiscal year. Required: Calculate gross profit. General Journal Date Dec. 31 Credit 37,800 31 26,800 Account/Explanation PR Debit Sales ... 37,800 Income Summary Income Summary .. 32,800 Cost of Goods Sold... Sales Returns and Allowances... Sales Discounts ... Salaries Expenses ... Income Summary. .5,000 Retained Earnings... 690 310 5,000 31 5.000 ! = x