Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31. (Assume amounts are reported in thousands of dollars.) Account TitlesDebit Credit Cash$58 Accounts Receivable 7 Prepaid Insurance 10 Equipment 120 Accumulated Depreciation $0 Accounts Payable 7 Common Stock 116 Retained Earnings 17 Sales Revenue 131 Insurance Expense 0 Salaries and Wages Expense 30 Supplies Expense 46 Totals$271 $271 Other data not yet recorded at December 31: Insurance expired during the year, $9. Depreciation expense for the year, $8. Salaries and wages payable, $11. Income tax expense, $13. Required: Using the adjusted balances, prepare the closing journal entry as of December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.)

On january 1, 2017, fisher corporation purchased 40 percent (90,000 shares) of the common stock of bowden, inc. for $980,000 in cash and began to use the equity method for the investment. the price paid represented a $48,000 payment in excess of the book value of fisher's share of bowden's underlying net assets. fisher was willing to make this extra payment because of a recently developed patent held by bowden with a 15-year remaining life. all other assets were considered appropriately valued on bowden's books. bowden declares and pays a $90,000 cash dividend to its stockholders each year on september 15. bowden reported net income of $400,000 in 2017 and $348,000 in 2018. each income figure was earned evenly throughout its respective year. on july 1, 2018, fisher sold 10 percent (22,500 shares) of bowden's outstanding shares for $338,000 in cash. although it sold this interest, fisher maintained the ability to significantly influence bowden's decision-making process. prepare the journal entries for fisher for the years of 2017 and 2018. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your final answers to the nearest whole dollar.)