On December 31, 2022, Ditka Incorporated had Retained Earnings of $286,800 before its closing entries were prepared and posted. During 2022, the company had service revenue of $187,100 and interest revenue of $90,800. The company used supplies in the amount of $97,400, advertising expenses were $18,300, salaries and wages totaled $21,150, and income tax expense was calculated as $17,500. During the year, the company declared and paid dividends of $7,900. Required: Prepare the closing entries dated December 31, 2022. Enter the beginning balance into the following T-account for Retained Earnings and post the closing entries.