The Adjusted Trial Balance of Sara's Web Services Follows (A)Prepare 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?