Seminoles Corporation's fiscal year-end is December 31, 2021. The following is a partial adjusted trial balance as of December 31. Debit Credit $24,000 $ 2,400 44,000 5,400 Accounts Retained Earnings Dividends Service Revenue Interest Revenue Salaries Expense Rent Expense Advertising Expense Depreciation Expense Interest Expense 14,400 5,400 2,400 10,400 4,400 Required: 1. Prepare the necessary closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) RED FLASH PHOTOGRAPHY Adjusted Trial Balance December 31, 2021 Accounts Debit Credit Totals $ 0 $ 0 2. Calculate the ending balance of Retained Earnings. Retained earnings