Laker Incorporated's fiscal year-end Is December 31, 2021. The following is an adjusted trial balance as of December 31, Credit Debit $ 10,600 32,000 23,000 Account Cash Supplies Prepaid Rent Accounts Payable Notes Payable Common Stock Ratained Earnings Dividenda Service Ravenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals $ 1.600 16,000 33,000 7,600 2,600 55,400 18,600 11,600 8,600 6,600 $113,600 $113,600 Required: 1. Prepare the necessary closing entries. (if no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field.) 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field.) No Date Dobit Credit Answer is not complete. General Journal December 31, 202 Service Revenue Retained Earnings 1 55,400 55,400 2 7,600 December 31, 202 Retained Earnings Salaries Expense Advertising Expenso Rent Expense Utilities Expense OO 18,600 11,600 8,600 6,800 3 December 31, 202 Retained Earnings Dividends IS