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 Required 1 Debit $10,700 32,500 23,500 2,700 18,700 11,700 8,700 6,700 $115,200 Required: 1. Prepare the necessary closing entries. 2. Calculate the ending balance of Retained Earnings. 3. Prepare a post-closing trial balance Required 2 Required 3 Credit $1,700 17,000 33,500 7,700 55,300 $115, 200 Complete this question by entering your answers in the tabs below.

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. Calculate the ending balance of Retained Earnings. 3. Prepare a post-closing trial balance Complete this question by entering your answers in the tabs below. Journal entry worksheet Record the entry to close the dividends account. Note: Enter debits before credits. Prepare a post-closing trial balancef