The year-end financial statements of Rattlers Tax Services are provided below.

1. Record year-end closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

2. Prepare a post-closing trial balance. (Hint: The balance of Retained Earnings will be the amount shown in the balance sheet.)

The year-end financial statements of Rattlers Tax Services are provided below. $72,500 RATTLERS TAX SERVICES Income Statement Service revenue Expenses: Salaries $45,000 Utilities 7,200 Insurance 4,800 Supplies 1,600 Net income 58,600 $13,900 RATTLERS TAX SERVICES Statement of Stockholders' Equity Common Retained Stock Earnings Beginning balance, Jan. 1 $50,000 $23,500 Issue stock 20,000 Net income 13,900 Dividends (5,000) Ending balance, Dec. 31 $70,000 $32,400 Total Stockholders' Equity 73,500 20,000 13,900 (5,000) $102,400 $ 7,500 Assets Cash Accounts receivable Land $ 3,700 6,200 100,000 RATTLERS TAX SERVICES Balance Sheet Liabilities Accounts payable Stockholders' Equity: Common stock Retained earnings Total liabilities and equities $70,000 32,400 102,400 $109,900 Total assets $109,900 Required: 1. Record year-end closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet