Preparing Financial Statements and Closing Procedures Solomon Corporation's adjusted trial balance for the year ending December 31, 2015, is: Solomon Corporation Adjusted Trial Balance December 31, 2015 Cash Accounts Receivable Debit $9,680 Credit 15,730 Equipment Accumulated Depreciation Notes Payable Common Stock 188,760 $33,880 24,200 104,060 Retained Earnings Service Fees Revenue 30,492 171,820 Rent Expense 43,560 Salaries Expense 89,782 Depreciation Expense Totals: 16,940 $364,452 $364,452 (a) Prepare its income statement and statement of stockholders' equity for the current year, and its balance sheet for the current year-end. Cash dividends were $19,360 and there were no stock issuances or repurchases. (b) Prepare entries to close its temporary accounts in journal entry form. (c) Set up T-accounts for each of the ledger accounts, enter the balances above, and post the closing entries to them. After these entries are posted, what is the post-closing balance of the Retained Earnings account? Note: Do not use negative signs unless otherwise noted. Income Statement Statement of SE Equity Balance Sheet Journal Entries T-Accounts Retained Earnings Service Fees Revenue Rent Expense Balance 0 0 Balance 0 0 Balance 0 1 0 0 1 0 0 0 0 2 0 0 Bal 0 0 Balance 0 Balance 0 0 Depreciation Expense Salaries Expense Balance 0 0 Balance 0 0 2 0 0 0 0 Balance 0 0 Balance 0 0