Use the following information to answer Exercises E5-23 through ES-25. The adjusted trial balance of Quality Office Systems at March 31, 2018, follows: QUALITY OFFICE SYSTEMS Adjusted Trial Balance March 31, 2018 Account Title Cash Balance Debit Credit $ 3.700 13.300 31,500 6,300 42,900 $ 13,900 9.200 800 8,600 Accounts Receivable Merchandise Inventory Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Salaries Payable Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total 18,000 4,950 41,500 235,700 107,550 27,400 14,200 2.800 $ 291,150 $ 291,150 E5-23 Journalizing closing entries Requirements 1. Journalize the required closing entries at March 31, 2018 2. Set up T-accounts for Income Summary: Retained Earnings, and Dividends. Post the closing entries to the T-accounts, and calculate their ending balances. 3. How much was Quality Office's net income or net loss? E5-24 Preparing a single-step income statement Prepare Quality Office's single-step income statement for the year ended March 31, 2018. E5-25 Preparing a multi-step income statement Prepare Quality Office's multi-step income statement for the year ended March 31, 2018