On december 31, 2018, ditka inc. had retained earnings of $272,800 before its closing entries were prepared and posted. during 2018, the company had service revenue of $173,100 and interest revenue of $83,800. the company used supplies in the amount of $90,400, advertising expenses were $16,900, salaries and wages totaled $19,050, and income tax expense was calculated as $14,700. during the year, the company declared and paid dividends of $6,500. prepare the closing entries dated december 31, 2016.