Danielson Corporation have just wrapped up their fiscal year. They have compiled their income statement and...

    

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Danielson Corporation have just wrapped up their fiscal year. They have compiled their income statement and are now in the process of completing their closing entries. To assist with the closing process they have created a dashboard reconciling beginning and ending retained earnings as well as demonstrating the components of their income statement. Using the dashboard address the following concerning the closing process inclusive of the closing entries: Dashboard appears as follows: Change in Retained Earnings $80K $60K $40K $20K $OK Income Statement Accounts $100K $80K $60K $40K $50,000 Beg. Retained Earnings Gain on Sale of Assets $10,000 Sales Revenue $89,000 Net Income End. Retained Earnings Loss on Sale of Assets $13,000 Utilities Expense $19,000 A. Utilizing the visualization dashboard, create the closing journal entries for Danielson Corporation. C. Post-closing entries, what is the ending Retained Earnings balance? Retained Earnings Balance Danielson Corporation have just wrapped up their fiscal year. They have compiled their income statement and are now in the process of completing their closing entries. To assist with the closing process they have created a dashboard reconciling beginning and ending retained earnings as well as demonstrating the components of their income statement. Using the dashboard address the following concerning the closing process inclusive of the closing entries: Dashboard appears as follows: Change in Retained Earnings $80K $60K $40K $20K $OK Income Statement Accounts $100K $80K $60K $40K $50,000 Beg. Retained Earnings Gain on Sale of Assets $10,000 Sales Revenue $89,000 Net Income End. Retained Earnings Loss on Sale of Assets $13,000 Utilities Expense $19,000 A. Utilizing the visualization dashboard, create the closing journal entries for Danielson Corporation. C. Post-closing entries, what is the ending Retained Earnings balance? Retained Earnings Balance