The following financial information was taken from the books of Zone Health Club, a small spa and fitness club:

Account Balances as of December 31, Year 1
Accounts Receivable ...................................$12,450
Accounts Payable ........................................6,200
Salaries Payable ..........................................3,150
Cash ..............................................................36,750
Dividends .....................................................2,000
Operating Expense .....................................35,300
Prepaid Rent ...............................................1,200
Rent Expense ..............................................8,400
Retained Earnings 1/1/Year 1 ...................41,250
Salaries Expense ........................................14,500
Service Revenue .........................................65,400
Supplies .......................................................650
Supplies Expense .......................................3,150
Common Stock ..........................................7,000
Unearned Revenue ...................................6,400
Land ...........................................................15,000

Required
a. Prepare the journal entries necessary to close the temporary accounts at December 31, Year 1, for Zone Health Club.
b. What is the balance in the Retained Earnings account after the closing entries are posted?