E3-39. Preparing Financial Statements and Closing Procedures Solomon Corporation's adjusted trial balance for the year ending December 31, 2015, is: SOLOMON CORPORATION Adjusted Trial Balance December 31, 2015 Debit Credit $ 4,000 6,500 78,000 $ 14,000 10,000 43,000 12,600 Cash Accounts receivable....... - Equipment .......... - Accumulated depreciation Notes payable .... Common stock........ Retained earnings.............................. Service fees earned .......... 'Rent expense..... - Salaries expense .................................. - Depreciation expense................................ Totals.. 71,000 18,000 37,100 7,000 $150,600 $150,600 a. Prepare its income statement and statement of stockholders' equity for the current year, and its balance sheet for the current yearend. Cash dividends were $8000 and there were no stock issuances or repurchases. b. Prepare entries to close its temporary accounts in journal entry form. C. Set up T-accounts for each of the ledger accounts, enter the balances above, and post the closing entries to them. After these entries are posted, what is the post-closing balance of the Retained Earnings account