The following financial information was taken from the books of Zone Health Club, a small spa and fitness club: Account Balances as of December 31,

Year 1 Accounts receivable $ 26,400 Accounts payable 7,890 Salaries payable 11,000 Cash 41,800 Dividends 5,300 Operating expense 2,790 Prepaid rent 3,700 Rent expense 7,800 Retained Earnings 1/1/Year 1 18,100 Salaries expense 30,800 Service revenue 83,200 Supplies 370 Supplies expense 2,300 Common stock 23,900 Unearned revenue 7,100 Land 13,100

Required a. Prepare the journal entries necessary to close the temporary accounts at December 31, Year 1, for Zone Health Club. b. What is the balance in the Retained Earnings account after the closing entries are posted?