Learning Objective 3 E4-21 Preparing closing entries from an adjusted trial balance The adjusted trial balance of Stone Sign Company follows: STONE SIGN COMPANY Adjusted Trial Balance January 31, 2018 Account Title Cash Office Supplies Prepaid Rent Equipment Accumulated Depreciation- Equipment Accounts Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Common Stock Dividends Service Revenue Salaries Expense Rent Expense Depreciation E Supplies Expense Utilities Expense Total Debit $15,400 1,500 1.400 60,000 $7,000 3,800 100 4,200 4,300 48,800 800 17,300 3,700 1.400 400 300 600 xpense-Equipment $85,500 85,500 Requirements 1. Assume Stone Sign Company has a January 31 year-end. Journalize Stone's closing entries at January 31 2. How much net income or net loss did Stone Sign Company earn for the year ended January 31? How can you tell