The following financial information was taken from the books of Zone Health Club, a small spa and fitness club:

Account Balances as of

December 31, 2016

Receivable $26,000 

Accounts Payable 7,040 

Salaries Payable 10,600 

Cash 40,800 

Dividends 4,900 

Operating Expense 2,690 

Prepaid Rent 3,900 

Rent Expense 7,200 

Retained Earnings 1/1/2016 20,500 

Salaries Expense 31,400 

Service Revenue 70,100 

Supplies 530 

Supplies Expense 2,830 

Common Stock 21,600 

Unearned Revenue 7,350 

Land 13,300

Required
a.  Prepare the journal entries necessary to close the temporary accounts at December 31, 2016, for Zone Health Club. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b.  What is the balance in the Retained Earnings account after the closing entries are posted?