Presented below are selected account balances for Blossom Co. as of December 31, 2020. Inventory 12/31/20 $59,590
Cost of Goods Sold $229,667
Common Stock 74,470
Selling Expenses 16,223
Retained Earnings 44,230
Administrative Expenses 37,519
Dividends 18,226
Income Tax Expense 30,500
Sales Returns and Allowances11,922
Sales Discounts 14,790
Sales Revenue 408,340
Prepare closing entries for Blossom Co. on December 31, 2020.

Anew 2-lane road is needed in a part of town that is growing. at some point the road will need 4 lanes to handle the anticipated traffic. if the city's optimistic estimate of growth is used, the expansion will be needed in 4 years and has a probability of happening of 40%. for the most likely and pessimistic estimates, the expansion will be needed in 8 and 15 years respectively. the probability of the pessimistic estimate happening is 20%. the expansion will cost $ 4.2 million and the interest rate is 8%. what is the expected pw the expansion will cost?