The income statement columns of Swanson Company's year-end worksheet

Sales$600,000

Sales Returns and Allowances30,000

Accounts Receivable120,000

Cost of Goods Sold 475,000

Freight out 4,000

Advertising Expense8,000

Accounts Payable25,000

Rent Expense32,000

Office Supplies 1,800

Store Salaries Expense63,000

Utilities Expense12,000

Amortization Expense 5,000

Merchandise Inventory 31,000

Sargent, Capital121,000

Sargent, Drawings6,000

A) Prepare end of the period closing entries for the Swanson.OMIT Explanations.

B) What is the closing Capital Balance for Sargent?