On December 31, 2016, Ditka Inc. had Retained Earnings of $274,800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $175,100 and interest revenue of $84,800. The company used supplies in the amount of $91,400, advertising expenses were $17,100, salaries and wages totaled $19,350, and income tax expense was calculated as $15,100. During the year, the company declared and paid dividends of $6,700.

A. Prepare the closing entries dated December 31, 2016.(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

B. Prepare T-account for the Retained Earnings account.