Answer and Explanation:
The journal entries are shown below:
Sales Revenue $492,000  
Interest Revenue $6,000  
Gains on Sale of Investment $8,000  
         To Profit or Loss $506.000
(being the closing of revenue accounts is recorded)  
Profit or Loss $440,000  
    To Salaries Expense      $80,000
    To Advertising Expense $10,000
    To Cost of Goods Sold  $284,000
    To Insurance Expense  $12,000
    To Interest Expense  $4,000
    To Income Tax Expense  $30,000
    To Depreciation Expense $20,000
(being the closing of expenses accounts is recorded)  
Net Income $66,000    ($506,000 - $440,000) 
    To Profit or Loss $66,000
(being Recording of profit earned)