1. Provide necessaryclosing entriesand use a t-account to determine the ending balance of retained earnings. You do not need to provide impacts of each debit and credit.

2. Provide apost-closing trial balanceincluding totals for both debit and credit accounts after completing the entries above. Be mindful when preparing this balance that some permanent accounts would have changed (and two would be added) after recording the entries above.

Cocteau Inc. provides the following unadjusted trial balance dated 12/31/23