Brea Corporations fiscal year-end is December 31, 2024. The following is a partial adjusted trial balance as of December 31. Accounts Debit Credit Retained Earnings $28,000 Dividends $2,800 Service Revenue 48,000 Interest Revenue 5,800 Salaries Expense 14,800 Rent Expense 5,800 Advertising Expense 2,800 Insurance Expense 10,800 Interest Expense 4,800 Required: 1. Prepare the necessary closing entries. 2. Calculate the ending balance of Retained Earnings