Additional Brief Exercise 195 The income statement for Pepe Serna Company for the year ended December 31, 2018 is as follows: Revenues Sales revenue Interest revenue Expenses Net Income Cost of goods sold Salaries and wages expense Interest expense PEPE SERNA COMPANY Income Statement For the Year Ended December 31, 2018 Date Dec. 31 Total revenues Dec. 31 Total expenses Prepare the entries to close the revenue and expense accounts at December 31, 2018. (Credit account titles are manually.) Account Titles and Explanation (To close revenue accounts) $33,000 13,000 1,000 (To close expense accounts) $58,000 3,000 $61,000 47,000 $14,000 Debit Credit