Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31, 2017.

Following are Nintendo's revenue and expense accounts for a recent March 31 fiscal year-end (yen in millions). (Enter answers in millions.)

Net sales	¥	1,948,622
Cost of sales		1,184,981
Advertising expense		118,608
Other expense, net		397,944

Prepare the company's closing entries for its revenues and its expenses.

No	Date	General Journal	Debit	Credit
1	March 31	Net salesselected answer correct	1,948,622selected answer correct	not attempted
		Income summaryselected answer correct	not attempted	1,948,622selected answer correct
2	March 31	Income summaryselected answer correct	1,701,533selected answer correct	not attempted
		Cost of salesselected answer correct	not attempted	1,184,981selected answer correct
		Advertising expenseselected answer correct	not attempted	118,608selected answer correct
		Other expense, netselected answer correct	not attempted	397,944selected answer correct

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5.

Account Title	Debit			Credit
Cash	$	7,400
Accounts receivable		15,500
Office supplies		6,160
Trucks		173,000
Accumulated depreciation—Trucks				$	35,638
Land		46,000
Accounts payable					11,400
Interest payable					18,000
Long-term notes payable					47,000
Common stock					16,000
Retained earnings					99,169
Dividends		12,000
Trucking fees earned					123,000
Depreciation expense—Trucks		22,987
Salaries expense		52,528
Office supplies expense		5,000
Repairs expense—Trucks		9,632
Totals	$	350,207		$	350,207

Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31, 2017.

Retained earnings is computed as:

Beginning balance	$	99,169
Plus: Net income ($123,000 – $22,987 – $52,528 – $5,000 – $9,632)		32,853
Less: Dividends		(12,000	)
Ending balance	$	120,022