Required information [The following information applies to the questions displayed below] At the beginning of 2016, Oak Consulting had the following normal balances in its accounts: The following events apply to Oak's Consulting for 2016 : 1. Provided $185,000 of services on account. 2. Incurred $45,800 of operating expenses on account. 3. Collected $140,000 of accounts fecelvable. 4. Paid $120,000 cash for solaries expense. 5. Paid $31,400 cash as a partial payment on accounts payable. 6. Poid an $10,000 cash dividend to the stockholders: d-1. Record the closing entries in the general joumal, (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Note: = journal entry has been entered d-2. What is the amount of net income for the year