The following selected accounts and account balances were taken from the records of Nowell Company. Except as otherwise indicated, all balances are as of December 31, Year 2, before the closing entries were recorded. Book Print Consulting revenue Cash Cash received from common stock issued during Year 1 Travel expense Dividends Cash flow from investing activities Rent expense Payment to reduce debt principal Retained earnings, January 1, Year 2 Salary expense Cash flow from operating activities Common stock, December 31, Year 2 Other operating expenses $ 9,600 7,900 3,000 650 900 2,800 1,950 19,200 14,700 3,200 2,600 11,100 1,600 erences Required a. Prepare the income statement Nowell would include in its Year 2 annual report. b. Identify the accounts that should be closed to the Retained Earnings account. c-1. Determine the Retained Earnings account balance at December 31, Year 2. c-2. Which of the following statement(s) is true? Complete this question by entering your answers in the tabs below. Reg A Req B Req C1 Reg C2 Prepare the income statement Nouell