Prepare the necessary closing entries.

Calculate the ending balance of Retained Earnings.

Prepare a post$-$closing trial balanceLaker Incorporated's fiscal year$-$end is December $31,2024.$ The following is an adjusted trial balance as of December $31.$

Required:

Prepare the necessary closing entries.

Calculate the ending balance of Retained Earnings.

Prepare a post$-$closing trial balance

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Prepare a post$-$closing trial balance.