The 2016 income statement of The Coca-Cola Company is as follows. THE COCA-COLA COMPANY Income Statement For the Year Ended December 31, 2016 (in millions) Net revenues $41,863 Cost of goods sold 16,465 GROSS PROFIT 25,398 Selling, general and administrative 15,262 Other operating charges 1,510 OPERATING INCOME 8,626 Interest expense, net 91 Other nonoperating expenses 399 INCOME BEFORE INCOME TAXES 8,136 Income taxes 1,586 CONSOLIDATED NET INCOME $ 6,550 Required: Prepare the closing entries for 2016 for the income statement temporary accounts