The Accountant for Sheldrake Consulting Prepared the Following "Adjusted" Trial

The accountant for Sheldrake Consulting prepared the following "Adjusted" Trial Balance at December 31, 2011, after one year of operations:
Prepare closing entries for Sheldrake Consulting.
$$\begin{array} { | l | l | l | } \hline & \text { Debit } & \text { Credit } \\\hline \text { Cash } & \$ 7,590 & \\\hline \text { Accounts Receivable } & 5,910 & \\\hline \text { Unexpired Insurance } & 2,550 & \\\hline \text { Office Equipment } & 25,230 & \\\hline \text { Accumulated Depreciation: Office Equipment } & & \$ 450 \\\hline \text { Unearned Consulting Fees } & & 4,230 \\\hline \text { Capital Stock } & & 21,030 \\\hline \text { Retained Earnings, January 1, 2011 } & & 3,390 \\\hline \text { Dividends } & 1,150 & \\\hline \text { Consulting Fees Earned } & & 28,150 \\\hline \text { Salaries Expense } & 8,850 & \\\hline \text { Utilities Expense } & 2,130 & \\\hline \text { Rent Expense } & 3,390 & \\\hline \text { Depreciation Expense } & \underline { 450 } & \\\hline & \underline { \$ 57,250 } & \underline { \$ 57,250 } \\\hline\end{array}$$