Use the following information to answer the next two questions (18 & 19): JCB prepared the following adjusted trial balance for the year ending Dec Account Titles Credit Debit Cash $ 32,000 Accounts Receivable 6,000 Prepaid Rent 2,400 Equipment 21,000 Accumulated Depreciation $ 4,000 1,000 Accounts Payable Income Tax Payable Common Stock 500 36,800 Retained Earnings 2,100 Sales Revenue 70,000 Salaries and Wages Expense 25,000 Utilities Expense 12,500 Rent Expense Depreciation Expense Income Tax Expense Totals 12,000 3,000 500 $ 114,400 114,400 18. Which of the following is a correct component of the closing entry that JCB will make when closing temporary accounts? Credit Prepaid Rent for $2,400 a. b. Debit Utilities Expense for $12,500 C. Credit Depreciation Expense for $4,000 d. Credit Rent Expense for $12,000 e. None of the above. 19. What will be the new balance in Retained Earnings after JCB closes temporary accounts? $2,100 a. b. $19,100 C. $70,000 d. $17,000 e. None of the above