you give exdiy competing in it? Is it still viable to enter into such and why? Page Break 3. Dorsey Company's partial worksheet for the month ended March 31, 2016, is shown below. Journalize the closing entries and prepare a post-closing trial balance. INCOME STATEMENT BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT Cash 8,500 Accounts Receivable 11,000 Supplies 4,500 Equipment 30,000 Accum. Depr.-Equip 10,000 Accounts Payable 9,500 N. Dorsey, Capital 32,000 N. Dorsey, Drawing 3,000 Fees Income 23,000 Salaries Expense 13,400 Rent Expense 1,400 Supplies Expense 700 Depr. Exp.-Equip 2.000 Totals 17,500 23,000 $7,000 $1,500 Net Income 5.500 5.500 23.000 23,000 57.000 $7.000 Would it be possible to identify what kind of business this is? How did you come up with such an assumption and what are the tell-tale signs or limitations of the given information? Page Break 4. The Picture Perfect Camera Shop had the following transactions for the month of August 3016