Presented below are selected account balances for Alistair Co. as of December 31, 2012. Inventory 12/31/12 $ 60,000 Cost of Goods Sold $235,700 Common Stock 75,000 Selling Expenses 16,000 Retained Earnings 45,000 Administrative Expenses 38,000 Dividends 18,000 Income Tax Expense 30,000 Sales Returns and Allowances 12,000 Sales Discounts 15,000 Sales Revenue 390,000 Instructions Prepare closing entries for Alistair Co. on December 31, 2012. (Omit explanations.)