PARTI SHORT PROBLEMS 170 POINTS) 1. The following balances are contained in Swann and Company books:

PARTI SHORT PROBLEMS 170 POINTS) 1. The following balances are contained in Swann and Company books:

PARTI SHORT PROBLEMS 170 POINTS) 1. The following balances are contained in Swann and Company books: DSwan, Capital $30,000 Drawings, Mr. D. Swan $ 2,000 Service Revenue $ 55,000 Salaries Expense $15,000 Supplies Expense 3,000 Insurance Expense 1,000 Required: a. Prepare in good form, a single-step income statement for Swann and Company, 2018. b. Prepare Closing Entries for Swann and Company, sing a dummy account know as Income & Expense Summary

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