The adjusted trial balance of Simpson Sign Company follows: E (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? X 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. A Data Table - Date Accounts and Explanation Debit Credit Jan. 31 Simpson Sign Company Adjusted Trial Balance January 31, 2018 Balance Account Title Debit Credit Cash $ 15,700 Office Supplies 1,100 Prepaid Rent 1,700 Equipment 56,000 Accumulated Depreciation Equipment 5,500 Accounts Payable 3,900 Salaries Payable 500 Unearned Revenue 3,500 Notes Payable (long-term) 5,500 Common Stock 45,700 Dividends 1,000 Service Revenue 18,100 Salaries Expense 4,300 Rent Expense 1,200 Depreciation Expense-Equipment 400 Supplies Expense Utilities Expense 1,000 Total $ 82,700 $ 82,700 300 Print Done