The year-end financial statements of Fighting Illini Financial Services are provided below.

FIGHTING ILLINI
Income Statement
Service revenue				$	84,700
Expenses:
Salaries	$	49,000
Supplies		9,100
Rent		7,500
Delivery		3,700			69,300
Net income				$	15,400

FIGHTING ILLINI
Statement of Stockholders' Equity
	Common Stock			Retained Earnings			Total S. Equity
Beg. bal., Jan. 1	$	60,000		$	32,300		$	92,300
Issue stock		15,000						15,000
Net income					15,400			15,400
Dividends					(6,000	)		(6,000	)
Ending bal., Dec. 31	$	75,000		$	41,700		$	116,700

FIGHTING ILLINI
Balance Sheet
Assets				Liabilities
Cash	$	6,600		Accounts payable				$	9,100
Accounts receivable		9,200		Stockholders' Equity
Land		110,000		Common stock	$	75,000
				Retained earnings		41,700			116,700
Total assets	$	125,800		Total liabs. and equities				$	125,800

Required:

1.	Record year-end closing entries. (Omit the "$" sign in your response.)

Date	General Journal	Debit	Credit
Dec. 31

2.	Prepare a post-closing trial balance. (Hint: The balance of retained earnings will be the amount shown in the balance sheet.) (The items in the Trial Balance should be grouped as follows: Assets and Liabilities (in order of their liquidity) and Equity. Omit the "$" sign in your response.)

FIGHTING ILLINI
Post-Closing Trial Balance
Accounts	Debit	Credit
	$
		$
Totals	$	$