S2SS Presented below are selected account balances for Sunland Co. as of December 31, 2020. Inventory 12/31/20 $59,550 Cost of Goods Sold $222,005 76,250 Common Stock 15,964 Selling Expenses 37,422 44,780 Administrative Expenses Retained Earnings ort 30,070 Income Tax Expense 18,160 Dividends 11,865 Sales Returns and Allowances 15,140 Sales Discounts 405,210 Sales Revenue Prepare closing entries for Sunland Co. on December 31, 2020. (Credit account titles are automatically indented when amount is e indent manually. If no entry is required, select "No entry for the account titles and enter O for the amounts.) Credit Debit No. Account Titles and Explanation 1 (To close accounts with credit balances) 2. 3 - N