Laker Incorporateds fiscal year-end is December 31, 2018. The following is an adjusted trial balance as of December 31.

Accounts	Debit			Credit
Cash	$	11,100
Supplies		34,500
Prepaid Rent		25,500
Accounts Payable				$	2,100
Notes Payable					21,000
Common Stock					35,500
Retained Earnings					8,100
Dividends		3,100
Service Revenue					54,900
Salaries Expense		19,100
Advertising Expense		12,100
Rent Expense		9,100
Utilities Expense		7,100
Totals	$	121,600		$	121,600

Required:

1. Prepare the necessary closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2. Calculate the ending balance of Retained Earnings.

3. Prepare a post-closing trial balance

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