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Problem 4-238 (LO 4-5] On December 31, 2018, Ditka Inc, had Retained Earnings of $280,800 before its closing entries were prepared and posted. During 2018,

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Problem 4-238 (LO 4-5] On December 31, 2018, Ditka Inc, had Retained Earnings of $280,800 before its closing entries were prepared and posted. During 2018, the company had service revenue of $181100 and interest revenue of $87,800. The company used supplies in the amount of $94.400, advertising expenses were $17700. salaries and wages totaled $20.250, and income tax expense was calculated as $16,300 During the year, the company declared and paid dividends of $7.300 Required: o. Prepare the closing entries dated December 31, 2018 b. Prepare T-account for the Retained Earnings account. Enter the beginning balance into the T-account post the closing entries, and then determine the ending balance

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