The Adjusted Trial Balance of Sara's Web Services Follows APrepare the Closing Entries for Sara's Web Services

The adjusted trial balance of Sara's Web Services follows:
$\begin{array}{c}\text { SARA'S WEB SERVICES}\\\text { Adjusted Trial Balance }\\\text { December 31}\\\begin{array}{|l|r|r|}\hline \text { Cash } & \$ 1,170 \\\hline \text { Supplies } & 1,930 \\\hline \text { Prepaid insurance } & 600 \\\hline \text { Computer equipment } & 20,600\\\hline \text { Accumulated depreciation - Computer equipment } & & \$ 5,400 \\\hline \text { Accounts payable } & & 325 \\\hline \text { Common stock } & & 3,000 \\\hline \text { Retained earnings } & & 10,925\\\hline \text { Dividends } & 4,800 & \\\hline \text { Services revenue } & & 21,720 \\\hline \text { Salaries expense } & 6,920 & \\\hline \text { Depreciation expense } & 2,000 & \\\hline \text { Rent expense } & 1,200 &\\\hline \text { Supplies expense } & 800 & \\\hline \text { Utilities expense } & 950 & \\\hline \text { Insurance expense } & 400 & \\\hline \text { Totals } & \$ 41,370 & \$ 41,370 \\\hline\end{array}\end{array}$

a.Prepare the closing entries for Sara's Web Services.
b.What is the balance of the retained earnings account after the closing entries are posted?