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Laker Incorporated's fiscal year - end is December 3 1 , 2 0 2 4 . The following is an adjusted trial balance as of

Laker Incorporated's fiscal year

-

end is December

31, 2024 .

The following is an adjusted trial balance as of December

31 .

Required:

Prepare the necessary closing entries.

Calculate the ending balance of Retained Earnings.

Prepare a post

-

closing trial balance

Complete this question by entering your answers in the tabs below.

Calculate the ending balance of Retained Earnings.

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