Prepare journal entries:

1. Close revenues and expenses to retained earnings

2. Close dividends to retained earnings

3. Create the post closing trial balance.

		Adjusted trial balance	Adjusted trial balance
	Account title	Debit	Credit
	Cash	$150,000
	Accounts Receivable	$38,000
	Supplies	$41,000
	Fixed Assets	$77,000
	Accounts Payable		$37,000
	Accrued Wages Payable		$29,000
	Other Liabilities		$48,000
	Capital Stock		$89,000
	Retained Earnings		$60,000
	Sales		$1,100,000
	Cost of Service	$426000
	Operating expense	$397,000
	Interest Expense	$4,000
	Income Tax Expense	$150,000
	Dividends	$80,000
	Total	1,363,000	1,363,000