Matrix Human Resource Solutions has the following ledger account balances as at December $31,2023$;

Revenue, $1,900,000$

Salaries Expense, $ $500,000$

Rent Expense, $ $55,000$

Utilities Expense, $$5,000$

Inventory Expense, $ $150,000$

Dividends Declared, $$200,000$

Retained Earnings, Opening $$450,000$

Required:

$1.$ Prepare the closing entries for December $31,2023.$

$2.$ Prepare the statement of retained earnings for $2023.$