Spicer Inc. showed the following alphabetized list of adjusted account balances at December 31, 2023: Accounts Payable Accounts Receivable Accumulated depreciation, Equipment Accumulated depreciation, Warehouse Cash Cash Dividends $ 25,360 38,800 10,440 20,880 8,000 19,200 Common Shares 108,000 Equipment 78,000 Income Tax Expense 40,200 Land 113,600. Notes Payable, due in 2026 33,200 Operating Expenses 108,800 Preferred Shares 38,800 Retained Earnings 27,320 Revenue Warehouse 267,400 124,800 The company uses an income summary account in the closing process.