Fick Psychological Services, Inc., closes its temporary accounts once each year on December 31. The company recently issued the following income statement as part of its annual report. Revenue: FICK PSYCHOLOGICAL SERVICES, INC. Income Statement For the year ended December 31, current year Counseling revenue Expenses: $ 350,000 Advertising expense Salaries expense Office supplies expense $ 2,900 95,000 2,500 Utilities expense 900 Malpractice insurance expense 6,000 Office rent expense 21,000 Continuing education expense 2,350 Income taxes expense Depreciation expense: fixtures Miscellaneous expense Net income 3,000 5,000 38,000 176,650 $ 173,350 Fick's statement of retained earnings indicates that a $8,000 cash dividend was declared and paid during the current year. a. Prepare the necessary closing entries on December 31 of the current year. b. If Fick's Retained earnings account had a $92,000 balance on at the beginning of the current year, at what amount should Retained Earnings be reported in the firm's year-end balance sheet dated December 31? Complete this question by entering your answers in the tabs below. Required A Required B Prepare the necessary closing entries on December 31 of the current year. (If no entry is required for a transaction/ever journal entry required" in the first account field.) View transaction list Prev 1 of 4 Next > Required A Required B Prepare the necessary closing entries on December 31 of the current year. (If no entry is required fo journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 Record the entry to close the revenue account. Note: Enter debits before credits. Transaction General Journal Debit Credit Complete this question by entering your answers in the tabs below. Required A Required B If Fick's Retained earnings account had a $92,000 balance on at the beginning of the current year, at what amount shou Retained Earnings be reported in the firm's year-end balance sheet dated December 31? Retained earnings, December 31, current year < Required A Required 8>