The year-end financial statements of Rattlers Tax Services are provided below.

Required:
1. Record year-end closing entries.
2. Prepare a post-closing trial balance.

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RATTLERS TAX SERVICES Statement of Stockholders Equity RATTLERS TAX SERVICES Income Statement Common Retained Total Stock Earnings S. Equity S77,500 Beg. bal., Service revenue Expenses Salaries Utilities Insurance Supplies 21062100 Ending bal., $46,000 8,200 5,800 Jan $60,000 $24,500 S 84,500 Issue stock 30,000 Net income Dividends 30,000 15,400 15,400 (6,000) (6,000) Net income Dec. 31 $90,000 $33,900 S123,900 RATTLERS TAX SERVICES Balance Sheet Assets Liabilities 4,700 Accounts payable 7,200 $ 3,000 Cash Accounts receivable Land Stockholders' Equity 115,000 Common stock $90,000 33,900 123900 Retained earnings Total assets $126,900 Total liabs. and equities