The following is the income statement for the period ending December 31, Year 1, for Manatee Construction Company:

Manatee Construction Company
Income Statement
Sales	$ 8,000,000
Cost of goods sold	(6,500,000)
Gross profit	1,500,000
Salaries expense	(300,000)
Other administrative expenses	(100,000)
Interest expense	(900,000)
Advertising expense	(450,000)
Total expenses	(1,750,000)
Operating loss	(250,000)
Gain from the sale of investments	100,000
Total net loss	$ (150,000)

Based on this information, perform the adjusting journal entry to close Manatees books at the end of Year 1.

To prepare each required journal entry:

Enter the corresponding debit or credit amount in the associated column.

Round all amounts to the nearest whole number.

Not all rows in the table might be needed to complete each journal entry.

Account Name	Debit	Credit
1. Sales
2. Cost of goods sold
3. Salaries expense
4. Other administrative expenses
5. Interest expense
6. Advertising expense
7. Gain from the sale of investments
8. Retained earnings