Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $620 were declared at the end of the year, and 540 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,980 in cash (for a total at the end of the year of 840 shares). These effects are included below: Cash Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit $1,480 2,330 Accounts receivable Interest receivable 260 Prepaid insurance 1,700 Long-term notes receivable 2,870 Equipment Accumulated depreciation Accounts payable Dividends payable Accrued expenses payable 16,500 $3,120 2,290 620 3,880 Income taxes payable 1,718 Unearned rent revenue. 440 Common Stock (840 shares) 84 Additional paid-in capital 3,556 Retained earnings 2,970 Sales revenue 37,750 Rent revenue 690 Interest revenue 180 Wages expense 20,100 Depreciation expense 1,630 Utilities expense 230 Insurance expense 780 Rent expense 7,700 Income tax expense Total 1,718 $57,298 $57,298 Prepare the closing entry at the end of the current year.