Following is the adjusted trial balance December 31, 2021 of Todd S, Inc

1) Perpare the closing entries recording it directly to retined earnings

2) Compute the balance in the retained earnings after completing entries

Debit Credit Cash $62,000 Supplies $45,000 Accounts Payable $2,000 Salaries Payable $4,000 Common Stock $40,000 Retained Earnings $32,000 Service Revenue $210,000 Salaries Expense $140,000 Advertising Expense $23,000 Rent Expense $18,000 Totals $288,000 $288,000