Required Prepare the closing entries. Exercise 4-8 Closing entries [ LO2 Improv Club (IC) features entertaining improvisational theatre performances. The theatre features a range of shows and talented performers. IC prepares financial statements on an annual basis. The following year-end accounts as of December 31 , 2020 are listed in alphabetical order and have normal balances. Required 1. Prepare an adjusted trial balance as at December 31, 2020. Will Nick Stilz's capital account of $110,100 appear on the balance sheet a at December 31, 2020? Explain. 2. Prepare the closing entries for the company. 3. What is the ending balance of Nick Stilz's capital account as at December 31, 2020