The year-end financial statements are provided below: Income Statement Service revenue Expenses Salaries Supplies Rent Delivery Net income January 1 Issue stock let income Dividends December 31 Assets Cash Accounts receivable Land Total assets 47,100 9,600 7,700 5,200 statement of stockholders Equity Retained Earnings Common Stock $70,000 12,000 $ 34,500 $62,000 $ 87,500 49.600 $17.900 $7,500 8,300 123,400 139,200 17,900 (5,000) $ 47,400 Total Stockholders' Equity $ 104,500 12,000 17,900 (5,000) $129,400 Balance Sheet Accounts payable Common stock Retained earnings Total liabilities and equities Liabilities Stockholders' Equity $82,000 47,400 $ 9,900 129,400 $139,200 Required: 1. Record year-end closing entries. 2. Prepare a post-closing trial balance. (Hint The balance of retained earnings will be the amount shown in the balance sheet)