Selected accounts for Winslow Inc. as at December 31, 2014,

Selected accounts for Winslow Inc. as at December 31, 2014, are as follows:

Inventory $58,450 Sales Discounts $5,270 FV-NI Investments 24,090 Sales Returns and Allowances 1,650 FV-OCI Investments 11,390 Cost of Goods Sold 220,220 Retained Earnings 44,080 Administrative Expenses 30,140 Dividends 17,610 Income Tax Expense 30,520 Accumulated Other Comprehensive Income 16,350 Investment Income 3,480 Sales Revenue 387,390 Unrealized Gain or Loss-OCI (Debit Balance) 1,700

Prepare closing entries for Winslow Inc. on December 31, 2014. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select “No Entry” for the account titles and enter 0 for the amounts.)