Prepare the closing entries and post-closing trial balance

Trial balance 1738 1149 1500 39 50 810 Cash Common stock Expense J. Expense Land Rent Expense Revenue Sale Stock Tax Total 50 193 45 200 2887 2887 238 Income Statement Revenue (193+45) Less: Expenses Expense 39 J. Expense 50 Rent Expense 50 Total Expenses Income before tax Less: Tax Net income/ (loss) -139 99 -200 -101 Balance Sheet Assets Amount Amount Current Assets: Cash (1738-1149) Total current Assets 589 589 Long term Assets: Land 810 Total Assets 1399 Liabilities and Stockholders' Equity Current liabilities Long term Liabilities Total Liabilities 0 1500 - 101 Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and stockholders' Equity 1399 1399 0 Statement of Retained Earnings Opening retained earnings Add: Current year Net income/(loss) Ending Retained Earnings -101 -101