Tyrone, an accountant for a small publishing firm, uses a worksheet to prepare the firm's annual financial report. The worksheet enables Tyrone to do...

Tyrone, an accountant for a small publishing firm, uses a worksheet to prepare the firm's annual financial report. The worksheet enables Tyrone to do what?

Identify account balances and adjustments.

Close the books on permanent accounts.

Move retained earnings to temporary accounts.

Update journal and ledger entries for each account.