Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $640 were declared at the end of the year, and 500 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 830 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Cash Debit $ 1,370 Credit Accounts receivable 2,280 Interest receivable 260 Prepaid insurance 1,780 Long-term notes receivable 2,820 Equipment Accumulated depreciation Accounts payable Dividends payable Income taxes payable 16,000 $ 3,180 2,210 640 Accrued expenses payable Unearned rent revenue 3,770 2,600 500 Common Stock (830 shares) Additional paid-in capital 83 3,577 Retained earnings 880 Sales revenue 39,240 Interest revenue 110 Rent revenue 830 Wages expense 19,900 Depreciation expense 1,790 Utilities expense 310 Insurance expense 800 Rent expense Income tax expense Total 7,600 2,710 $57,620 $57,620 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.)