On December 31, the ledger of Davis Company contained the following account balances:

Accounts Payable	$	14,600		Fees Income	$	187,000
Accounts Receivable		6,500		Supplies		4,900
Accumulated Depreciation		9,400		Prepaid Rent		64,500
Cash		89,000		Rent Expense		9,700
Depreciation Expense		9,400		Supplies Expense		8,900
Equipment		77,000		Teresa Davis, Capital		131,500
Teresa Davis, Drawing		56,500		Utilities Expense		16,100

All the accounts have normal balances. Prepare the closing entries for Davis Company On December 31.