The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account balances:

Accounts	Debits				Credits
Cash	$	19,500
Accounts Receivable		7,900
Supplies		3,900
Equipment		14,500
Accumulated Depreciation					$	4,800
Salaries Payable						6,800
Common Stock						24,500
Retained Earnings						9,700
Totals	$	45,800			$	45,800

The following is a summary of the transactions for the year:

1.		March		12		Provide services to customers, $59,000, of which $20,900 is on account.
2.		May		2		Collect on accounts receivable, $17,900.
3.		June		30		Issue shares of common stock in exchange for $5,000 cash.
4.		August		1		Pay salaries of $6,800 from 2020 (prior year).
5.		September		25		Pay repairs and maintenance expenses, $12,900.
6.		October		19		Purchase equipment for $7,900 cash.
7.		December		30		Pay $1,000 cash dividends to stockholders.

The following information is available for the adjusting entries. Accrued salaries at year-end amounted to $20,100. Depreciation for the year on the equipment is $4,900. Office supplies remaining on hand at the end of the year equal $1,000.

Record the closing entries for revenue, expenses, and cash dividends.

Prepare the Income and Balance Sheet.