18 Malibu Corporation's fiscal year-end is December 31, 2024. The following is a partial adjusted trial balance as of December 31 Accounts Debit Credit Retained Earnings Dividends $26,000 12,600 Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Insurance Expense Interest Expense 14,600 5,600 2,600 10,600 4,600 46,000 5,600 Required: 1. Prepare the necessary closing entries. 2. Calculate the ending balance of Retained Earnings. Complete this question by entering your answers in the tabs below. Required Required 2 Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.).

Malibu Corporation's fiscal year-end is December 31, 2024, The followng is a partial adjusted trial balance as of December 31. Required: 1. Piepare the necessary closing entries. 2. Cakculate the ending balance of Retained Eamings. Complete this question by entering your answers in the tabs below. Prepare the necessary dosing entries. (If no entry is required for a particular transactionvevent, select "No Joumai Entry Requireo" in th first account field.)