Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $650 were declared at the end of the year, and 570 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,840 in cash (for a total at the end of the year of 820 shares). These effects are included below: Catena’s Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,360 Accounts receivable 2,380 Interest receivable 290 Prepaid insurance 1,690 Long-term notes receivable 2,810 Equipment 17,000 Accumulated depreciation $ 3,120 Accounts payable 2,230 Dividends payable 650 Accrued expenses payable 3,720 Income taxes payable 2,570 Unearned rent revenue 580 Common Stock (820 shares) 82 Additional paid-in capital 3,438 Retained earnings 2,020 Sales revenue 38,790 Interest revenue 250 Rent revenue 750 Wages expense 19,800 Depreciation expense 1,780 Utilities expense 260 Insurance expense 710 Rent expense 7,500 Income tax expense 2,620 Total $ 58,200 $ 58,200 Prepare the closing entry at the end of the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)