Catenas marketing company has the following adjusted trial balance at the end of the current year. cash dividends of $640 were declared at the end of the year, and 530 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 840 shares). these effects are included below:

catenas marketing company adjusted trial balance end of the current year debit credit

cash $ 1,420
accounts receivable 2,310
interest receivable 210
prepaid insurance 1,760
long-term notes receivable 2,820
equipment 15,300
accumulated depreciation $ 3,100
accounts payable 2,280
dividends payable 640
accrued expenses payable 3,840
income taxes payable 2,560
unearned rent revenue 530
common stock (840 shares) 84
additional paid-in capital 3,546
retained earnings 680
sales revenue 38,090
interest revenue 230
rent revenue 660
wages expense 19,200
depreciation expense 1,640
utilities expense 240
insurance expense 710
rent expense 8,000
income tax expense 2,630

total $ 56,240 $ 56,240

prepare the closing entry at the end of the current year.