Laker Incorporateds fiscal year-end is December 31, 2021. The following is an adjusted trial balance as of December 31.

Accounts	Debit				Credit
Cash	$	11,600
Supplies		37,000
Prepaid Rent		28,000
Accounts Payable					$	2,600
Notes Payable						26,000
Common Stock						38,000
Retained Earnings						8,600
Dividends		3,600
Service Revenue						54,400
Salaries Expense		19,600
Advertising Expense		12,600
Rent Expense		9,600
Utilities Expense		7,600
Totals	$	129,600			$	129,600

Required:

1. Prepare the necessary closing entries.

2. Calculate the ending balance of Retained Earnings

3. Prepare a post-closing trial balance