Sarasota Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is shown as follows. Sarasota Company Adjusted Trial Balance July 31, 2022 No. Account Titles Debit Credit 101 Cash $10,450 112 Accounts Receivable. 9,500 157 Equipment 15,700 158 Accumulated Depreciation-Equip. $7,600 201 Accounts Payable 4,600 208 Unearned Rent Revenue 2,100 311 Common Stock 19,050 320 Retained Earnings 27,000 332 Dividends 16,500 400 Service Revenue 63,500 429 Rent Revenue 6,500 711 Depreciation Expense 7,000 726 Salaries and Wages Expense 56,700 732 Utilities Expense 14,500 $130,350 $130,350 (a) Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation July 31 July 31 (To close revenue accounts) July 31 July 31 (To close expense accounts) (To close net income/(loss)) (To close dividends) Debit Credit