The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Credit Debit $ 19,000 13,000 3,000 24,000 $ 7,500 10,000 37,600 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 307 Common stock 318 Retained earnings 319 Dividends 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 7,000 44,000 3,000 22,000 2,500 3,400 2,200 $99, 100 $99,100 1. Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901. 2. Prepare the December 31, post-closing trial balance for Cruz Company. Note: The Retained Earnings account balance was $37,600 on December 31 of the prior year. Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901. No Date General Journal Debit Credit 1 Dec 31 Services revenue 44,000 Income summary 44,000 2 Dec 31 33,100 Income summary Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Supplies expense oo OOOOOOO 3,000 22,000 2,500 3,400 2,200 3 Dec 31 10,900 Income summary Retained earnings 10,900 4 Dec 31 7,000 Retained earnings Dividends 7,000 Prepare the December 31, post-closing trial balance for Cruz Company. Note: The Retained Earnings account balance was $37,600 on December 31 of the prior year. CRUZ COMPANY Post-Closing Trial Balance December 31 Debit Credit Cash Supplies Prepaid insurance Equipment Accumulated depreciation Equipment Retained earnings $ 19,000 13,000 3,000 24,000 $ 7,500 51,500 X Totals $ 59,000 $ 59,000