The year-end financial statements of Viper Tax Services are provided below. Service revenue Expenses: Salaries Utilities Insurance Supplies Net income Beginning balance, January 1 Issue stock Net income Assets VIPER TAX SERVICES Income Statement Dividends Ending balance, December 31 Cash Accounts receivable Land Total assets VIPER TAX SERVICES Statement of Stockholders' Equity $ 4,300 6,800 110,000 $ 45,600 7,800 5,400 1,900 $ 121,100 $ 75,500 60,700 $ 14,800 Common Stock $ 56,000 26,000 $ 82,000 VIPER TAX SERVICES Balance Sheet Retained Earnings $ 24,100 Accounts payable Liabilities Tota Stockholders' Equity 14,800 (5,600) $ 33,300 $ 115,300 Stockholders' Equity 80,100 26,000 14,800 (5,600) Common stock Retained earnings Total liabilities and equities $ 82,000 33,300 $ 5,800 115,300 $ 121,100 4 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.)

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