On January $1,$ Grand Rapids Consulting Inc. had a retained earnings balance of $$46,600$ and reported the following accounts and balances at year end:

Required:

Prepare the closing entries made by Grand Rapids Consulting at December $31.$ If an amount box does not require an entry, leave it blank.

Dec. $31$

$$

Dec. $31$

$x$

$$

$$

$x$

$x$

$3$

Income Taxes Expense $$

$$

Dec. $31$

$$

$x$

$9$ more Check My Work uses remaining.

The closing process is designed to transfer the balances in the temporary accounts $($revenues$,$ expenses, and dividends$)$ to retainec

Prepare Grand Rapids Consulting's retained earnings statement. If an amount is zero, enter $"0".$

Grand Rapids Consulting Inc.

Retained Earnings Statement

For the year ending December $31$