I need help with this problem. The class is Financial and Managerial Accounting, and the book is the 18 edition.

Module 3 Homework Assignment Saved Help Save & Exit Submit Check my work 1 Gerdes Psychological Services, Inc., closes its temporary accounts once each year on December 31. The company recently issued the following income statement as part of its annual report. 50 points eBook Print References GERDES PSYCHOLOGICAL SERVICES, INC. Income Statement For the year ended December 31, current year Revenue: Counseling revenue $230,000 Expenses: Advertising expense $ 1,700 Salaries expense 98,000 supplies expense 2,200 Utilities expense 850 Malpractice insurance expense 7,000 Office rent expense 29,000 Continuing education expense 2,550 Depreciation expense: fixtures 4,500 Miscellaneous expense 6,000 Income taxes expense 30,500 182,300 Net income $ 47,700 Office The firm's statement of retained earnings indicates that a $6,000 cash dividend was declared and paid during the current year. a. Prepare the necessary closing entries on December 31, current year. b. If the firm's Retained earnings account had a $99,000 balance on January 1, current year, at what amount should Retained earnings be reported in the firm's balance sheet dated December 31, current year? Mc Graw Educatio