On December 31, 2019, the ledger of Lopez Company contained the following account balances: Cash $ 31,000 Maria Lopez, Drawing $ 11,500 Accounts Receivable 1,900 Fees Income 43,750 Supplies 1,100 Depreciation Expense 1,750 Equipment 24,000 Salaries Expense 15,000 Accumulated Depreciation 1,500 Supplies Expense 2,000 Accounts Payable 2,000 Telephone Expense 1,600 Maria Lopez, Capital 46,250 Utilities Expense 3,650 Prepare the closing entries for the above transactions.