answer part B please

Larkspur Inc. has recorded all necessary adjusting entries, except for income tax expense, at its fiscal year end, July 31, 2024. The following information has been taken from the adjusted trial balance: All accounts have normal balances and total assets equal \$866,550. Larkspur has a 20% income tax rate. LARKSPUR INC. Statement of Retained Earnings Year Ended July 31, 2024 Retained Earnings, August 1, 2023 \( \$ \longdiv { 3 7 3 1 2 0 } \) Add v : Profit/(Loss) for the Year Less : Cash Dividends Retained Earnings, July 31, 2024 $ 479120 Prepare closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) (To close expense accounts.) July 31 (To close income Summary.) July 31 (To close dividends.)