Preparation of Closing Entries On January 1, Grand Repids Consuiting Inc. had a retained earnings balance of $43,200 and reported the following occownts and balances at vear and: 1. Prepare the closing entries mode by Grand Ropids Consulting at Decomber 31. If an amount box does not require on entry, leave it blank. 2. Prepare Grand Rapids Consulting's retained earnings statement. If an amount is zero, enter "0". Grand Rapids Consulting Inc. 2. 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