Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance $3,240 3,924 3,672 1,800 Equipment 7,680 Accum. Depr. - Equipment $1,296 Accounts Payable 1,014 Long-Term Notes Payable 8,400 Common Stock 2,400 Retained Earnings 6,246 Dividends 3,480 Service Fees Earned 70,080 Rent Expense 14,400 Salaries Expense 40,080 Supplies Expense 5,640 Insurance Expense 3,900 Depreciation Expense-Equipment 864 Interest Expense 756 Totals $89,436 $89,436 Required a. Prepare an income statement and a statement of stockholders' equity for the year, and a balance sheet as of December 31. b. Prepare closing entries directly to Retained Earnings in general journal form. Income Statement Statement of Stockholders Equity Balance Sheet Journal Entries FINE CONSULTING SERVICE Statement of Stockholders' Equity For Year Ended December 31 Common Stock Retained Earnings Total Balance, January 1 $ Add: Net Income 0 $ 0 0 $ 0 0 Less: Dividends paid (enter as a negative) 0 0 0 Balance, December 31 $ 0 $ 0 $ Please answer all parts of the question.