The statement of income for Regina Cleaning Services Ltd. for the year ended November 30 shows Service Revenue $131,000; Salaries Expense $64,200; Repairs and Maintenance Expense $15,800; Supplies Expense $6,400; Utilities Expense $2,200; and Income Tax Expense $6,200. The statement of changes in equity shows an opening balance for Retained Earnings of $48,800 and Dividends Declared $5,000.

a.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. For ending balance enter 0 on the side of the normal balance for the account. For income summary use the Credit Side.)