Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing entries LO 3-1, 3-2, 3-3, 3-4 [The following information applies to the questions displayed below.] At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 25,500 24,800 11,200 25,100 14,000 The following events apply to Oak Consulting for Year 2: 1. Provided $71,400 of services on account. 2. Incurred $3,200 of operating expenses on account. 3. Collected $47,300 of accounts receivable. 4. Paid $36,200 cash for salaries expense. 5. Paid $12,960 cash as a partial payment on accounts payable. 6. Paid a $9,900 cash dividend to the stockholders. d-1. Record the closing entries in the general journal. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the closure of service revenue. Note: Enter debits before credits. Event General Journal Gen Debit Credit 71,400 Service revenue No journal entry required Journal entry worksheet Record the closure of expenses account. Note: Enter debits before credits. Event General Journal Debit Credit Journal entry worksheet Record the payment of dividends. Note: Enter debits before credits. Event General Journal Debit Credit 3 d-2. What is the amount of net income for the year? Net income e. What is the amount of change in retained earnings for the year? Change in retained earnings f. Prepare a post-closing trial balance. OAK CONSULTING Post-Closing Trial Balance As of December 31, Year 2 Account Titles Debit Credit Totals $ $