Based on the data below, make the two appropriate closing entries for your corporation $($There can be more than one answer$)$:

Sales $=$$$500,000$

Interest Revenue $=$$$1500$

Rent Revenue $=$$$5500$

Cost of Goods Sold $=$$$100,000$

Wage Expense $=$$$175,000$

Wage Expense $=$$$175,000$

Utilities Expense $=$$$25,000$

Payroll Tax Expense $=$$$20,000$

Advertising Expense $=$$$10,000$

Bad Debt Expense $=$$$1000$

Depreciation Expense $-$ Building $=$$$8000$

Depreciation Expense $-$ Equipment $=$$$2000$

Income Tax Expense $=$$$25,000$

Insurance Expense $=$$$5000$