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 $$11,800$

Supplies $38,000$

Prepaid Rent $29,000$

Accounts Payable $$2,800$

Notes Payable $28,000$

Common Stock $39,000$

Retained Earnings $8,800$

Dividends $3,800$

Service Revenue $54,200$

Salaries Expense $19,800$

Advertising Expense $12,800$

Rent Expense $9,800$

Utilities Expense $7,800$

Totals $$132,800$ $$132,800$

Required:

$1.$ Prepare the necessary closing entries.

$2.$ Calculate the ending balance of Retained Earnings.

$3.$ Prepare a post$-$closing trial balance