Selected accounts for Tamarisk, Inc. a private company following ASPE, as at December 31, 2020, are as follows: Inventory FV-NI Investments Retained Earnings Dividends Sales Revenue Sales Discounts $60,000 24,600 45,000 18,200 388,000 5,300 Sales Returns and Allowances Cost of Goods Sold Administrative Expenses Income Tax Expense Investment Income $2,020 214,000 30,450 29,100 2,990 Prepare closing entries for Tamarisk, Inc. on December 31, 2020. (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.) Account Titles and Explanation Debit Credit (To close revenue accounts) HH HH HHHHHHHHH (To close expense accounts) (To close income summary) (To close dividends)