! Required information [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 Balance Cash $ 31,000 Accounts receivable 17,500 Accounts payable 10,900 Common stock 27,100 Retained earnings 10,500 The following events apply to Oak Consulting for Year 2 1. Provided $68,500 of services on account. 2. Incurred $2,800 of operating expenses on account. 3. Collected $46,600 of accounts receivable. 4. Paid $38,300 cash for salaries expense. 5. Paid $12,330 cash as a partial payment on accounts payable, 6. Paid a $8,400 cash dividend to the stockholders OAK CONSULTING Effect of Transactions on the Financial Statements for Year 2 Balance Sheet Income Statement Liabilities Stockholders' Equity Accounts Common Retained Revenue Expenses Payable Stock Earnings No Cash Assets Accounts Receivable Statement of Cash Flows Net Income Bal 1 2 3 4 5 6 Bal 0 0 0 0 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 Cash Accounts receivable Accounts payable Common stock Retained earnings Totals 69 0 $ 0