7) The following are selected accounts and their balances after adjustments at May 31, 2015, the end of Mark's Furniture Refinishing's fiscal year. Mark's Furniture Refinishing Trial Balance December 31, 2015 Debit Credit Cash $ 20.000 Accounts receivable 5,000 Refinishing supplies 16,000 Took 65.000 Accumulated depreciation, tools $ 12,000 Accounts payable 4.000 Mark Madman, capital 4.000 Mark Madman, withdrawals 1,000 Fees earned 100,000 Wages expense 5,000 Supplies expense Depreciation expense Utilities expense Rental expense Total 500 3.000 500 4.000 $ 120,000 $120,000 1) Prepare the necessary closing entries at December 31. 2) What is the balance of Mark's capital account after the bookkeeper posts the closing entries?