Requirement 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Joumalize Puzzler's closing entries at January 31, 2018. (Record debits first, then credits. Exclude explanations from any journal entries.) Record the closing entries for Puzzler at January 31, 2018. Begin by closing the revenue account. Journal Entry Date Accounts Debit Credit (1) Jan 31 i Data Table - X Next, close the expense accounts. 12,400 16,600 Journal Entry Accounts 300 15,900 13,600 6,000 Debit Credit Date (2) Jan 31 L Accounts payable ..............$ Accounts receivable Accumulated depreciation, equipment Advertising expense ............ Cash Common stock Current portion of long-term ........ note payable Depreciation expense equipment... Dividends declared 6,600 10,700 18,000 2,800 Interest expense ............ $ Note payable, long term ...... Other assets, long-term ...... Prepaid expenses ........... Retained earnings, January 31, 2017 Salary expense. Salary payable Service revenue ............ Supplies................... Supplies expense Uneamed service revenue .... 2,000 1,600 11,200 43,500 13,100 26,200 2,800 97,500 3,800 4,400 2,800 Now close the dividends account. Equipment ........... . ... Journal Entry Accounts Debit Credit Date (3) Jan 311 Print Done Requirement 2. A T-account for Retained Earnings has been set up for you. Post to that account. Then calculate Puzzler's net income for the year ended January 31, 2018. What is the ending balance of Retained Earnings? Post the beginning balance and closing entries to Retained Earnings in the T-account by selecting the respective posting references and then entering the correct amounts. Determine the ending balance. Retained Earnings The net income for 2018 was $ L . Requirement 3. Did Retained Earnings increase or decrease during the year? What caused the increase or decrease? Retained Earnings during 2018 because