Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $630 were declared at the end of the year, and 620 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,000 in cash (for a total at the end of the year of 820 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Cash Debit $1,490 Credit bk Accounts receivable 2,320 Interest receivable 130 Prepaid insurance 1,740 Long-term notes receivable 2,970 Equipment 16,300 Accumulated depreciation $3,060 Accounts payable 2,320 Dividends payable 630 Accrued expenses payable 3,910 Income taxes payable 1,575 Unearned rent revenue 540 Common Stock (820 shares) 82 Additional paid-in capital Retained earnings Sales revenue 3,588 3,320 38,100 Rent revenue Interest revenue 660 150 Wages expense 20,400 Depreciation expense 1,600 Utilities expense 200 Insurance expense 650 Rent expense 8,500 1,595 Income tax expense Total $57,935 $57,935 Prepare the closing entry at the end of the current year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.