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

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, 2016
  Accounts Receivable     $29,100
  Accounts Payable     7,730
  Salaries Payable     11,600
  Cash     43,200
  Dividends     5,100
  Operating Expense     2,430
  Prepaid Rent     3,100
  Rent Expense     7,900
  Retained Earnings 1/1/2016     20,900
  Salaries Expense     32,700
  Service Revenue     74,700
  Supplies     530
  Supplies Expense     2,800
  Common Stock     23,400
  Unearned Revenue     6,740
  Land     14,900


Required
a.     Prepare the journal entries necessary to close the temporary accounts at December 31, 2016, for Zone Health Club.

b.

What is the balance in the Retained Earnings account after the closing entries are posted?