eBook Brief Exercise 3-36 (Algorithmic). Preparing and Analyzing Closing Entries At December 31, 2019, the ledger of Aulani Company includes the following accounts, all having normal balances: Sales Revenue, $72,900; Cost of Goods Sold, $38,300; Retained Earnings, $20,000; Interest Expense, $3,200, Dividends, $5,000; Wages Expense, $8,000, and Interest Payable, $2,100 Required: 1. Prepare the closing entries for Aulani at December 31, 2019. If an amount box does not require an entry, leave it blank Dec. 31 Dec. 31 (Close revenues) Dec. 31 (Close expenses) (Close Income Summary) 0 0000 Dec. 31 Dec. 31 (Close revenues) (Close expenses) Dec. 31 (Close Income Summary) (Close Dividends) 2. How does the closing process affect Aulani's retained earnings? of Previous