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:GERDES PSYCHOLOGICAL SERVICES, INC. Income StatementFor the Year Ended December 31, 2015Revenue: Counseling revenue $ 225,000Expenses: Advertising expense $ 1,800 Salaries expense 94,000 Office supplies expense 1,200 Utilities expense 850 Malpractice insurance expense 6,000 Office rent expense 24,000 Continuing education expense 2,650 Depreciation expense: fixtures 4,500 Miscellaneous expense 6,000 Income taxes expense 29,400 170,400Net income $ 54,600The firm's statement of retained earnings indicates that a $6,000 cash dividend was declared and paid during 2015.a. Prepare the necessary closing entries on December 31, 2015

Statement of Retained Earnings

Net income $54,600

Dividend paid -$6,000

Net income transferrable to retained Earnings account $48,600

Explanation:

GERDES PSYCHOLOGICAL SERVICES,

Income Statement

For the Year Ended December 31, 2015

Revenue:

Counseling revenue $ 225,000

Expenses:

Advertising expense $ 1,800

Salaries expense $94,000

Office supplies expense $1,200

Utilities expense $850

Malpractice insurance expense $6,000

Office rent expense $24,000

Continuing education expense $2,650

Depreciation expense:

fixtures $4,500

Miscellaneous expense $6,000

Total Expenses $141,000

Operating Profit $84,000

Income taxes expense 29,400

Net income $ 54,600

2. Statement of Retained Earnings

Net income $54,600

Dividend paid -$6,000

Net income transferrable to retained Earnings account $48,600

d. to get countries or companies to stop doing something objectionable.

answer; empowerment and collaboration;