The completed financial statement columns of the worksheet for Sandhill Company are shown as follows: Sandhill Company Worksheet For the Year Ended December 31, 2020 Income Statement Balance Sheet Account No. Account Titles Dr. Cr. Dr. Cr. 101 Cash 8,700 112 Accounts Receivable 11,000 130 Prepaid Insurance 3,000 157 Equipment 23.800 158 Accumulated Depreciation-Equip. 4,400 201 Accounts Payable 9.100 212 Salaries and Wages Payable 2,500 301 19,400 Owner's Capital Owner's Drawings 306 10,300 400 Service Revenue 59,600 622 1.800 711 3.100 722 Maintenance and Repairs Expense Depreciation Expanse Insurance Expense Salaries and Wages Expense Utilities Expense 1.700 726 30,100 732 1.500 Totals 38.200 59,600 56,800 35.400 Net Income 21.400 21,400 59,600 59,600 56,000 56,800 Prepare the closing entries. L. Sandhill did not make any additional investments during the year. (Credit account titles are automatically indented when amount is entered. Do not indent manually Date Account Titles and Explanation Debit Credit Dec. 31 (To close revenue account) Dec (To close expense accounts) Dec 31 (To close net income / (loss >> Dec 31 (To close drawings)