Exercise 3-18 (Algo) Record closing entries and prepare a post-closing trial balance (LO3-6, 3-7) Laker Incorporated's fiscal year-end is December 31, 2024. The following is an adjusted trial balance as of December 31. Accounts Debit Credit Cash $10,000 Notes Payable Supplies Prepaid Rent Accounts Payable Common Stock Retained Earnings 29,000 20,000 $1,000 10,000 30,000 7,000 Dividends 2,000 Service Revenue 56,000 Salaries Expense 18,000 Advertising Expense 11,000 Rent Expense 8,000 Utilities Expense 6,000 Totals $104,000 $104,000