226 LOS-2, LO5-4, LO5-5 EXERCISE 5.4 Preparing Closing Entries and an After-Closing Trial Balance Chapter 5 The Accounting Cycle: Reporting Financial Results Refer to the adjusted trial balance of Green Lawns, Inc., illustrated in Exercise 5.2 to respond to the following items. a. Prepare all necessary closing entries at December 31, current year. b. Prepare an after-closing trial balance dated December 31, current year. c. Compare the Retained Earnings balance reported in the after-closing trial balance prepared in part b to the balance reported in the adjusted trial balance. Explain why the two balances are different. (Include in your explanation why the balance reported in the after-closing trial balance has increased or decreased subsequent to the closing process.)