Question 11 (5 points) At December 31, 2020, Bauer Ltd.'s year-end adjusted trial balance was as follows: Credit Debit $ 60,750 45,900 84,200 4.000 199,800 110,000 Cash. Accounts receivable. Inventory Prepaid rent. Machinery Land Accumulated depreciation, machinery. Accounts payable. Dividends payable. Unearned revenue. Loan payable Common shares. Retained earnings Dividends declared. 49,300 59,500 9,000 16,400 90,000 145,000 87,700 13,000 16 tv w Retained earnings .. Dividends declared Sales revenue. Service revenue. Cost of goods sold Operating expenses. Depreciation expense.. Interest expense Totals 87,700 13,000 640,700 45,100 387,420 224,230 7,100 6,300 $1.142.700 $1,142.700 Required: a. Prepare the necessary closing entry/entries for Bauer Ltd. (4 marks - 8 minutes) b. Calculate ending retained earnings as at December 31, 2020. (1 mark - 2 minutes) tv AR A 16