Requirements 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Puzzler's closing entries at January 31, 2018. 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? 3. Did Retained Earnings increase or decrease during the year? What caused the increase or the decrease? Print Done - Accounts payable $ 12,700 Interest expense 200 Accounts receivable 16,500 Note payable, long term 15,500 Accumulated depreciation, Other assets, long-term 13,600 equipment 7,000 Prepaid expenses 6,000 Advertising expense 10,900 Retained earnings, Cash... 17,200 January 31, 2017 13,900 Common stock.. 4,300 Salary expense 26,900 Current portion of long-term Salary payable. 3,500 note payable 1,900 Service revenue 94,000 Depreciation expense-equipment... 1,700 Supplies.. 3,900 Dividends declared 11,000 Supplies expense 4,700 Equipment 43,600 Unearned service revenue 3,400 Requirement 1. All adjustments have been journalized and posted, but the closing entries have not yet been made. Journalize Puzzler's closing entries at January 31, 2018 Record the closing entries for Puzzler at January 31, 2018 Begin by closing the revenue account Date Journal Entry Accounts (1) Jan 31 Service Revenue Debit Credit ns Hub Next, close the expense accounts. Date (2) Jan 31 Journal Entry Accounts Debit Credit Hub classes DVC Support Hub Now close the dividends account Date (3) Jan 31 Journal Entry Accounts Debit Credit 4 Requirement 2. AT-account for Retained Earnings has been set up for you Post to that account. Then calculate Puzzier's net income for the year ended January 31, 2018. What is the ending balance of Retained Eamings? Post the beginning balance and closing entries to Retained Eamings 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 2010 was Requirement 3. Did Retained Earings increase or decrease during the year? What caused the increase or decrease? Retained Earnings during 2018 because