MRN Corporation has total revenues of $11,000. Its expenses are: Salaries Expense: $4,000, Supplies Expense: $700 Rent Expense: $2,000 Dividends are $1,000 Beginning Retained Earnings is $18,000 Instructions: 1. Journalize the necessary closing entries. Use the attached journal template. 2. Calculate the ending retained earnings balance? Use the template provided in the instructions. (10 points)

MRN Corporation has total revenues of $11,000. Its expenses are: Salaries Expense : $4,000 Supplles Expense : $700 Rent Expense : $2,000 Dividends are $1,000 Beginning Retained Earnings is $18,000 Instructions: 1. Journalize the necessary closing entries. Use the attached journal template. 2. Calculate the ending retained earnings balance? Use the template provided in the instructions. (10 points)