The year-end financial statements of Python Tax Services are provided below. PYTHORT TAX SERVICES Incone Statement Service revenue Expenses Salaries Utilities Insurance Supplies Net income beginning balance, January 11 Issue stack Net Income Dividends Ending balance, December 31 Assets Cash Accounts receivable Land Total assets $ 45,200 7,400 5,000 1,709 PYTHORT TAX SERVICES Statement of Stockholders' Equity $3,900 6,400 100,000 $ 110,300 $ 73,500 59,340 $ 14,200 Common Stock $ 52,000 22,000 $74.000 Total Retained Stockholders Earnings $23,760 Accounts payable 14,200 (5,200) $32,700 PYTHORT TAX SERVICES Balance Sheet Liabilities Stockholders Equity Equity 75,700 22,000 14,200 (5,200) $100,700 Common stock Retained earnings Total Liabilities and equities $74,000 $3,600 32,700 186,700 $ 110,300 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)