The accountant of Johnson Engineering Ltd. prepared the following adjusted trial balance at December 31, 2019: Credit Debit 4.160 13.400 1.200 30.000 Cash Accounts Receivable Unexpired Insurance Office Equipment Accumulated Depreciation: Office Equipment Accounts Payable Unearned Consulting Fees Capital Stock Retained Earnings, January 1, 2019 Dividends Consulting Fees Earned Salaries Expense Utilities Expense Rent Expense Depreciation Expense 12.000 4.000 2.500 25.000 1.200 200 17.620 6.000 1.300 3.560 2.500 62.320 62.320 a. Prepare the closing entries for Johnson Engineering Ltd. b. Calculate the new Retained Earnings at December 31, 2019