Post the closing entries to the T accounts, and determine the final balance in each account. (CE refers to closing entries. Post ding balance is zero, enter 0 in the column y account to credit side.) \begin{tabular}{lr|l} \multicolumn{3}{c}{ Prepaid Insurance } \\ \hline Bal. & 3,000 & \\ & & 11. \\ \hline Bal. & 1,500 & 1,500 \\ \hline \multicolumn{2}{c}{ Equipment } \\ \hline Bal. & 75,000 & \end{tabular} \begin{tabular}{l|lr} \multicolumn{4}{c}{ Accumulated Depreciation, Equipment } \\ \hline & Bal. & 25,000 \\ & 12. & 9,000 \\ \hline & Bal. & 34,000 \end{tabular} \begin{tabular}{l|lr} \multicolumn{4}{c}{ Common Shares } \\ \hline & Bal. \end{tabular} Retained Earnings Dividends Declared \begin{tabular}{lll} \hline Bal. & & 0 \\ \hline 8. & & 36,000 \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{lr|r} \multicolumn{3}{c}{ Supplies Expense } \\ \hline Bal. & 0 & \\ 9. & 48,800 & 4 \\ \hline 4 & 4 & 4 \\ \hline \end{tabular} Income Summary