Presented below are selected account balances for Homer Winslow Co as of December 31, 2014.

Instructions: Prepare closing entries for Homer Winslow Co on December 31,2014. (Omit explanations)

Inventory 12/31/14 $60,000 Cost of Goods Sold $225,700

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 410,000

Alarge university wanted to study the relationship between completing an internship during college and students' future earning potential. prom the same graduating class, they selected a random sample of 80 students who completed an internship and 100 students who did not complete an internship and examined their salaries five years after graduation. they found that there was a statistically higher mean salary for the internship group than for the noninternship group. which of the following interpretations is the most appropriate? a. there could be a confounding variable, such as student major, that explains the difference in mean salary between the internship and no internship groups.b. we cannot infer anything from these data since the distribution of salaries is likely right skewed.c. you cannot draw any valid conclusions because the sample sizes are different.d. more students should complete internships because having an internship produces a higher salary.