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 receivable. 4. Paid $120,000 cash for salaries expense. 5. Paid $31,400 cash as a partial payment on accounts payable. 6. Paid an $10,000 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.) o-1, kecora the ciosing enunes in the generai journak. ur no entry is requirea ror a transaction/event, select "No journal entry required" in the first account field.) d-2. What is the amount of net income for the year