On December 31, 2016, Ditka Inc. had Retained Earnings of $278, 800 before its closing entries were prepared and posted. During 2016, the company had service revenue of $179, 100 and interest revenue of $86, 800. The company used supplies in the amount of $93, 400, advertising expenses were $17, 500, salaries and wages totaled $19, 950, and income tax expense was calculated as $15, 900. During the year, the company declared and paid dividends of $7, 100. 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.)