At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts:

Account	Balance
Cash	$	29,200
Accounts receivable		16,400
Accounts payable		12,200
Common stock		20,200
Retained earnings		13,200

The following events apply to Oak Consulting for Year 1:

1. Provided $74,500 of services on account.
2. Incurred $3,000 of operating expenses on account.
3. Collected $50,000 of accounts receivable.
4. Paid $36,000 cash for salaries expense.
5. Paid $13,680 cash as a partial payment on accounts payable.
6. Paid a $8,600 cash dividend to the stockholders.

f. Prepare a post-closing trial balance.

OAK CONSULTING
Post-Closing Trial Balance
As of December 31, Year 1
Account Titles	Debit	Credit
Cash
Accounts receivable
Accounts payable
Common stock
Retained earnings
Totals	$0	$0