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