Laker Incorporated's fiscal year-end is December 31, 2024. The following is an adjusted trial balance as of December 31. Accounts Cash Supplies Prepaid Rent Accounts Payable - Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Rent Expense Utilities Expense Totals Debit $10,800 33,000 24,000 2,800 18,800 11,800 8,800 6,800 $116,800 Credit Required: 1. Prepare the necessary closing entries. 2. Calculate the ending balance of Retained Earnings. 3. Prepare a post-closing trial balance $1,800 18,000 34,000 7,800 55,200 $116,800

Laker Incorporated's fiscal year-end is December 31,2024 . The following is an adjusted trial balance as of December 31 . Required: 1. Prepare the necessary closing entries. 2. Caiculate the ending balance of Retained Earnings. 3. Prepare a post-closing trial balance