prepare the closing entries using the balance sheet below.

Binarium Inc Balance Sheet April 30, 2014 Assets Current assets Cash 221,925 Accounts receivable 65,944 Prepaid rent 9,900 Total current assets 297,769 Property, plant and equipment Computers 36,500 Accumulated depreciation, computers_(4,850) 31,650 Machinery 18,000 Accumulated depreciation, machinery (142) 17,858 Total property, plant and equipment 49,508 Total assets 347,277 Liabilities Cur liabilities Accounts payable 62,500 Salaries payable 1,800 Unearned consulting revenue 3,300 Total current liabilities 67,600 Total liabilities 67,600 Equity Share capital 113,500 Retained earnings 166,177 Total equity. 279,677 Total liabilities and equity. 347,277