The income statement for Regina Cleaning Services Ltd. for the year ended November 30 shows Service Revenue $103,700; Salaries Expense $60,000; Repairs and Maintenance Expense $15,000; Supplies Expense $6,000; Utilities Expense $2,000; and Income Tax Expense $5,700. The statement of changes in equity shows an opening balance for Retained Earnings of $50,000 and Dividends Declared $10,000.

(c) Your answer is partially correct. Try again. Using T accounts, post the closing entries, and determine the ending balances. (CE means closing entry.) (Post entries in the order of journal entries presented in the previous question.) Service Revenue Nov 30 Bal. 103,700 X7 Salaries Expense 60,000 Nov 30 Bal. Supplies Expense 6,000 Nov 30 Bal. Utilities Expense 2,000 Nov 30 Bal. x Repairs and Maintenance Expense 15,000 Nov 30 Bal. Income Tax Expense 5,700 Nov 30 Bal. UPILI Dividends Declared 10,000 Nov 30 Bal. Income Summary Nov 30 CE1 - Retained Earnings Nov 1 50,000