Inventory 12/31/17 $59,030 cost of goods sold $224,679 common stock 76,110 selling expenses 16,230 retained earnings 45,580 administrative expenses 38,719 dividends 18,337 income tax expense 30,480 sales returns and allowances 11,914 sales discounts 15,020 sales revenue 417,650 prepare closing entries for wildhorse co. on december 31, 2017.

Ski powder resort ends its fiscal year on april 30. the business adjusts its accounts monthly, but closes them only at year-end (april 30). the resort's busy season is from december 1 through march 31. adrian pride, the resort's chief financial officer, the museums a close watch on lift ticket revenue and cash. the balances of these accounts at the end of each of the last five months are as follows: