The adjusted trial balance at December 31 year-end for Lagou Printing Inc, a student print shop, is provided below Lagou Printing Inc Adjusted Trial Balance at December 31, 2020 Cost of Sales Depreciation Expense Gross Profit Income Tax Expense Interest Expense Net Earnings Sales Revenue Utilities Expense Wages Expense $4,600 $145 $8,250 $1.731 $25 $5,194 $12,850 $360 $795 Additional information: . $4,000 in dividends were declared and paid in 2020. Q16. Which of the following entries is NOT an appropriate closing entry? O Debit Income Summary $12,850; Credit Sales Revenue $12,850 Debit Sales Revenue $12,850; Credit Income Summary $12,850 Debit Income Summary $5,194, Credit Retained Earnings $5,194 None of the above Q17. Which of the following is an appropriate closing entry necessary to prepare for the 2020-year end? O Debit Income Summary $5.194; Credit Retained Earnings $5,194 O Debit Cost of Sales $4,600; Credit Income Summary $4,600 Debit Gross Profit $8,250; Credit Retained Earnings $8,250 None of the above Q18. Which of the following represents the closing entry necessary for dividends declared for the 2020-year end? Debit Dividends Declared $4,000; Credit Retained Earnings $4,000 O Debit Retained Earnings $4,000; Credit Dividends Declared $4,000 O Debit Income Summary $4,000; Credit Dividends Declared $4,000 O Debit Dividends Declared $4,000; Credit Income Summary $4,000