4 Laker Incorporated's fiscal year-end is December 31, 2021. The following is an adjusted trial balance as of December 31 Credit Debit $ 11,000 34.000 25,000 ts Accounts Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals $ 2.000 20,000 35,000 8.00 3.000 55.000 19.000 12.000 9,000 7.000 $120,000 $120,000 Required: 1. 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.) Answer is not complete. No Date General Journal Debit Credit