The Following Data Were Taken from the Accounting Records of Li

The following data were taken from the accounting records of Li Company at December 31, Year 1 after adjusting entries have been entered. The December 31, Year 1 closing entries have not been made.
$\begin{array}{llr}\text { Service revenue } & 166,000 \\\text { Retained earnings } & 95,000 \\\text { Accounts receivable } & 26,500 \\\text { Salaries expense } & 88,000 \\\text { Operating expense } & 15,400 \\\text { Accounts payable } & 22,800 \\\text { Supplies expense } & 760 \\\text { Prepaid rent } & 4,000 \\\text { Common stock } & 90,000\\ \text { Supplies } &400\\ \text { Dividends } &2,400\\ \text { Insuxance expense} &1,600\\ \text { Rent expense} &20,000\\ \text {Unearned revenue } &1,530\\\end{array}$
Required:List the accounts that should be closed at the end of Year 1.Prepare an income statement for Li Company for Year 1.What is the balance in retained earnings after closing?