Malibu Corporation's fiscal year-end is December 3h, 2024. The following is a partial adjusted trial balance as of December 31. Required: 1. Prepare the necessary closing entries. 2. Calculate the ending balance of Retained Earnings. Complete this question by entering your answers in the tabs below. 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.)