Selected accounts for Winslow Inc. as at December 31, 2014, are as follows:

Instructions
Prepare closing entries for Winslow Inc. on December 31, 2014.

$ 5,000 22,000 Sales Returns and Allowances 2,000 222,700 31,000 30,000 3,000 390,000 Unrealized Gain or Loss OCI 1,500 $60,000 Sales Discounts Inventory FV-NI Investments FV-OCI Investments Retained Earnings Dividends Accumulated Other Comprehensive Income 17,000 nvestment Income Sales Revenue 11,000 Cost of Goods Sold 5,000 Administrative Expenses 18,000 Income Tax Expense