Wilderness Guide Services, Inc., performs adjusting entries every month, but closes its accounts only at year-end. The companys year-end adjusted trial balance dated December 31, current year, is as follows.

WILDERNESS GUIDE SERVICES, INC.
Adjusted Trial Balance
December 31, current year
Cash	$	12,200
Accounts receivable		31,000
Camping supplies		7,900
Unexpired insurance policies		2,400
Equipment		70,000
Accumulated depreciation: equipment					$	60,000
Notes payable (due 4/1/next year)						18,000
Accounts payable						9,500
Capital stock						25,000
Retained earnings						15,000
Dividends		1,000
Guide revenue earned						102,000
Salary expense		87,500
Camping supply expense		1,200
Insurance expense		9,600
Depreciation expense: equipment		5,000
Interest expense		1,700
	$	229,500			$	229,500

a. Prepare all necessary closing entries at December 31, current year.

b. Prepare an after-closing trial balance dated December 31, current year.