The year-end financial statements of Viper Tax Services are provided below. VIPER TAX SERVICES Income Statement Service revenue $ 74,000 Expenses: Salaries $ 45,300 Utilities 7,500 Insurance 5,100 Supplies 1,750 59,650 Net income $ 14,350 VIPER TAX SERVICES Statement of Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Beginning balance, January 1 $ 53,000 $ 23,800 76,800 Issue stock 23,000 23,000 Net income 14,350 14,350 Dividends (5,300) (5,300) Ending balance, December 31 $ 76,000 $ 32,850 $ 108,850 VIPER TAX SERVICES Balance Sheet Assets Liabilities Cash $ 4,000 Accounts payable $ 6,650 Accounts receivable 6,500 Stockholders' Equity Land 105,000 Common stock $ 76,000 Retained earnings

The year-end financial statements of Viper Tax Services are provided below. Required: 1. Transfer balances of all temporary accounts to Retained Earnings and calculate its ending balance. (Hint. The balance of Retained Earnings after closing will be the amount shown in the balance sheet.) 2. Calculate all account balances after closing. 1. Transfer balances of all temporary accounts to Retained Earnings and calculate its ending balance. (Hint. The balance of Retained Earnings after closing will be the amount shown in the balance sheet.) 2. Calculate all account balances after closing. Complete this question by entering your answers in the tabs below. Calculate all account balances after closing