Gerdes Psychological Services, Limited, closes its temporary accounts once each year on December 31 The company recently issued the following income statement as part of its annual report 500,000 GERDES PSYCHOLOGICAL SERVICES, LIMITED INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2013 Revenue: Counseling revenue Expenses: Advertising 2,100 expense Salaries 96,000 expense Office supplies 1,600 expense Utilities expense 1,000 Malpractice 6.000 Insurance expense Office rent 27.000 expense Continuing 3,650 education expense Depreciation 4,500 expense: foctures Miscellaneous 6,000 expense Income taxes 28,000 expense 175,850 Profit For the Year 324,150 The firm's statement of changes in equity indicates that a $7,000 cash dividend was declared and paid during 2013 a. Prepare the necessary closing entries on December 31, 2013. (Omit the "$" sign in your response.) General Journal Debit Credit (Click to select) (Click to select) (Click to select) (Click to select) (Click to select) Click to select) (Click to select) (Click to select) (Click to select) (Click to select) Click to select) (Click to select) (Click to select) Click to select) (Click to select) (Click to select) (Click to select) b. If the firm's Retained Earnings account had a 597.000 balance on January 1, 2013 at what amount should Retained Earings be reported in the firm's statement of financial position dated December 31 2013? (Omit the "S" sign in your response.) Retained Earnings as on December 31, 2013