Closing entries after the accounts have been adjusted at march 31, the end of the fiscal year, the following balances were taken from the ledger of cabriolet services co.: retained earnings $378,110 dividends 35,000 fees earned 548,480 wages expense 360,100 rent expense 86,400 supplies expense 32,410 miscellaneous expense 10,805 journalize the two entries required to close the accounts. if an amount box does not require an entry, leave it blank. nov. 30 nov. 30

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.