The adjusted trial balance of Simpson Sign Company follows: (Click the icon to view the adjusted trial balance.) Requirements 1. Assume Simpson Sign Company has a January 31 year-end. Journalize Simpson's closing entries at January 31. 2. How much net income or net loss did Simpson Sign Company earn for the year ended January 31? How can you tell? Requirement 1. Assume Simpson Sign Company has a January 31 year-end. Journalize Simpson's closing entries at January 31. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First, close revenues. Jan. Date Accounts and Explanation 31 Debit Credit