Seminoles Corporation?s fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31.

Required:1. Prepare the necessary closing entries.2. Calculate the ending balance of Retained Earnings.

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Accounts Debit Credit Retained Earnings $30,000 $ 3,000 Dividends Service Revenue 50,000 Interest Revenue 6,000 Salaries Expense 15,000 Rent Expense 6,000 Advertising Expense 3,000 Depreciation Expense 11,000 Interest Expense 5,000