Data Table Requirements S 12,100 Interest expense Accounts payable Accounts receivable Accumulated depreciation, 800 15,800 3,700 6,100 1. All adjustments have been journalized and posted, but the closing entries have 6,000 Note payable, long term not yet been made. Journalize Steamy Spring's closing entries at January 31 2018. Other assets, long-term equipment Advertising expense Cash Common stock Current portion of long-term 7,400 Prepaid expenses 1,000 Retained eanings, 7,000 January 31, 2017 5,400 Salary expense 2. A T-account for Retained Earnings has been set up for you. Post to that account. Then calculate Steamy Spring's net income for the year ended January 31, 2018. What is the ending balance of Retained Earnings? 13,200 26,200 2,900 94,100 4.000 4,000 3,700 3. Did Retained Earnings increase or decrease during the year? What caused the increase or the decrease? Salary payable note payable Depreciation expense-equipment Dividends declared Equipment 1,600 Service revenue 700 Supplies Print Done 14,000 Supplies expense 1,700 Unearned service revenue PrintDone The accounts of Steamy Spring Services, Inc., at January 31, 2018, are listed in alphabetical order EEB Click the icon to view the accounts.) Read the requirem Requirement 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Steamy Spring's closing entries at January 31, 2018. Record debits first, then credits. Exclude explanations from any journal entries.) Record the closing entries for Steamy Spring at January 31, 2018. Begin by closing the revenue account. Journal Entry Date Accounts Debit Credit (1) Jan 31 Next, close the expense accounts Journal Entry Date Accounts Debit Credit (2) Jan 31 Now close the dividends account. Journal Entry Date Accounts Debit Credit (3) Jan 31 Requirement 2. A T-account for Retained Earnings has been set up for you. Post to that account. Then calculate Steamy Spring's net income for the year ended January 31, 2018. What is the ending balance of Retained Earnings? Post the beginning balance and closing entries to Retained Earnings in the T-account by selecting the respectve posting references and then entering the correct amounts. Determine the ending balance. Retained Earnings The net income for 2018 was $ Requirement 3. Did Retained Earnings increase or decrease during the year? What caused the increase or decrease? Retained Earnings during 2018 because I decreased increased remained the same dividends exceeded the beginning balance of retained earnings net income exceeded dividends. revenues exceeded dividends