Presented below are certain account balances for Emily & Gretchen Cookie Company, at December 31, 2018. All of the accounts have normal balances. The Retained Earnings balance is the BEGINNING balance as of 1/1/18. Cash $8,000 Accounts payable $10,000 Accounts receivable 20,000 9,000 Notes payable Accumulated depreciation Prepaid insurance 15,000 Equipment 35,000 Equipment 14,000 7.000 Service revenue 39,000 Depreciation expense Dividends 1,500 Common stock 10,000 Salaries expense 15,000 14.000 Retained earnings - 01/01/2018 Unearned service revenue Rent expense 10,000 2,000 Instructions: (a) Prepare closing entries for December 31, 2018