:56:21 bok nt int Laker Incorporated's fiscal year-end is December 31, 2024. The following is an adjusted trial balance as of December 31. 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 Debit $10,800 33,000 24,000 2,800 18,800 11,800 Required 1 Required 2 Required 3 8,800 6,800 $116,800 Required: 1. Prepare the necessary closing entries. 2. Calculate the ending balance of Retained Earnings. 3. Prepare a post-closing trial balance Calculate the ending balance of Retained Earnings. Retained earnings Credit

Laker Incorporated's fiscal year-end is December 31,2024 . The following is an adjusted trial balance as of December 31. Required: 1. Prepare the necessary closing entries. 2. Calculate the ending balance of Retained Earnings. 3. Prepare a post-closing trial balance Complete this question by entering your answers in the tabs below. Calculate the ending balance of Retained Earnings. Complete this question by entering your answers in the tabs below. Prepare a post-closing trial balance