Debit Credit $11,000 34,000 Laker Incorporated's fiscal year-end is December 31, 2024. The following is an adjusted trial balance as of December 31. Cash Supplies Accounts Prepaid Rent 25,000 bed Accounts Payable $2,000 Notes Payable 20,000 Common Stock 35,000 Retained Earnings 8,000 Dividends 3,000 Service Revenue 55,000 bok Salaries Expense 19,000 Advertising Expense 12,000 Rent Expense 9,000 Utilities Expense 7,000 int Totals $120,000 $120,000 rint erences 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. ces Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 View transaction list Journal entry worksheet < 1 2 Record the entry to close the revenue accounts. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general journal > ces Journal entry worksheet < 1 2 3 Record the entry to close the expense accounts. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2 > nt ences Journal entry worksheet < 1 2 Record the entry to close the dividends account. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit View general journal Record entry Clear entry Laker incorporated's fiscal year-end is December 31, 2024. Ine following is an adjusted trial balance as of De Accounts Debit Credit Cash Supplies $11,000 34,000 Prepaid Rent 25,000 Accounts Payable $2,000 Notes Payable 20,000 Common Stock 35,000 Retained Earnings 8,000 Dividends 3,000 Service Revenue 55,000 Salaries Expense 19,000 Advertising Expense 12,000 Rent Expense 9,000 Utilities Expense 7,000 Totals $120,000 $120,000 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. Required 1 Required 2 Required 3 Calculate the ending balance of Retained Earnings. Retained earnings ces Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a post-closing trial balance. LAKER INCORPORATED Post-Closing Trial Balance December 31, 2024 Accounts Debit Credit Totals $ 0 $ 0