The owner of Dynamo Stores has come to you for assistance because his bookkeeper has just moved to another city. The following is the only information his bookkeeper left him. 1. Balance sheets as of December 31, 2023 and 2024 2. The owner withdrew $114,000 in 2024 for his personal use. 3. The business incurred total expenses of $194,150 for 2024, of which $147750 was for wages and $46,400 was for advertising Assets Liabilities Capital 2024 2023 $194,150 $299,850 $ 46,400 $ 86,100 147,750 213,750 $194,150 $299,850 Required: 1. Calculate the profit and total revenue for 2024. Profit Total revenue Activate Windows Required: 1. Calculate the profit and total revenue for 2024 Profit Total revenue 2. Prepare closing entries for 2024 View transaction list Journal entry worksheet 1 2 3 4 Record the closing of Revenue. 2. Prepare closing entries for 2024. View transaction list Journal entry worksheet < 3 4 Record the closing of Revenue. Note: Enter debits before credits. Date Dec 31, 2024 General Journal Debit Credit View transaction list Journal entry worksheet < 1 3 4 Record the closing of Expenses. Note: Enter debits before credits. Date Dec 31, 2024 General Journal Debit Credit Activate Window View transaction list Journal entry worksheet 1 2 Record the closing of Capital. Note: Enter debits before credits. Date Dec 31, 2024 4 General Journal Debit Credit Activate W Go to Sett View transaction list Journal entry worksheet < 3 Record the closing of withdrawals. Note: Enter debits before credits. Date Dec 31, 2024 General Journal Debit Credit Activate Window