Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $600 were declared at the end of the year, and 570 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,970 in cash (for a total at the end of the year of 820 shares). These effects are included below:

Catenas Marketing Company
Adjusted Trial Balance
End of the Current Year
	Debit				Credit
Cash	$	1,440
Accounts receivable		2,380
Interest receivable		230
Prepaid insurance		1,720
Long-term notes receivable		2,840
Equipment		16,100
Accumulated depreciation				$	3,080
Accounts payable					2,240
Dividends payable					600
Accrued expenses payable					3,890
Income taxes payable					2,590
Unearned rent revenue					410
Common Stock (820 shares)					82
Additional paid-in capital					3,518
Retained earnings					1,430
Sales revenue					38,760
Interest revenue					200
Rent revenue					840
Wages expense		19,900
Depreciation expense		1,680
Utilities expense		260
Insurance expense		790
Rent expense		7,600
Income tax expense		2,700
Total	$	57,640		$	57,640

Prepare the closing entry at the end of the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)