Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit Credit Cash $3,150 5,650 4,480 42,000 Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable Uneared Service Revenue $24,000 2,800 4,450 3,875 Common Stock 8,000 Retained Earnings 2,255 Dividends 10,500 99,200 49,400 Service Revenue Salaries Expense Rent Expense Insurance Expense 17,250 2,200 4,950 Depreciation Expense Income Taxes Expense 5,000 Totals $144,580 $144,580 Totals $144,580 $144,580 Required: Prepare the closing entries for Sparrow at December 31, 2019. If an amount box does not require an entry, I Dec. 31 (Close revenues) Dec. 31 1 101 (Close expenses) Dec. 31 (Close Income Summary) Dec. 31 (Close Dividends)