The year-end adjusted trial balance of the Tool and Die Corporation included the following account balances: retained earnings, $280,000; dividends, $36,000; sales revenue, $910,000; cost of goods sold, $610,000; salaries expense, $170,000; rent expense, $41,000; and interest expense, $27,000. Prepare the necessary closing entries. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field