This is the balance sheet of Home Depot Inc. in 2022 and 2021.

"Prepare the closing entries in proper journal entry form for one of your company."

 

in millions, except per share data Assets Current assets: Cash and cash equivalents Receivables, net Merchandise inventories. Other current assets Total current assets Net property and equipment Operating lease right-of-use assets Goodwill Other assets Total assets Liabilities and Stockholders' Equity Current liabilities: Short-term debt Accounts payable Accrued salaries and related expenses Sales taxes payable Deferred revenue Income taxes payable Current installments of long-term debt Current operating lease liabilities Other accrued expenses Total current liabilities Long-term debt, excluding current installments Long-term operating lease liabilities Deferred income taxes Other long-term liabilities Total liabilities THE HOME DEPOT, INC. CONSOLIDATED BALANCE SHEETS Common stock, par value $0.05; authorized: 10,000 shares; issued: 1,792 shares at January 30, 2022 and 1,789 shares at January 31, 2021; outstanding: 1,035 shares at January 30, 2022 and 1,077 shares at January 31, 2021 Paid-in capital Retained earnings Accumulated other comprehensive loss. Treasury stock, at cost, 757 shares at January 30, 2022 and 712 shares at January 31, 2021 Total stockholders' (deficit) equity Total liabilities and stockholders' equity $ January 30, 2022 2,343 3,426 22,068 1,218 29,055 25,199 5,968 7,449 4,205 71,876 1,035 13,462 2,426 848 3,596 158 2,447 830 3,891 28,693 36,604 5,353 909 2,013 73,572 90 12,132 67,580 (704) (80,794) (1,696) 71,876 $ $ $ January 31, 2021 7,895 2,992 16,627 963 28,477 24,705 5,962 7,126 4,311 70,581 11,606 2,463 774 2,823 193 1,416 828 3,063 23,166 35,822 5,356 1,131 1,807 67,282 89 11,540 58,134 (671) (65,793) 3,299 70,581