Spicer Inc. showed the following alphabetized list of adjusted account balances at December 31, 2023: Accounts Payable Accounts Receivable. Accumulated depreciation, Equipment Accumulated depreciation, Warehouse Cash Cash Dividends. Common Shares COM Equipment Income Tax Expense. Yond Land Notes Payable, due in 2026 Operating Expenses Preferred Shares. Retained Earnings Revenue Warehouse. $ 24,860 38,300 10,190 20,380 200 7,500 18,700 103,000 77,500 39,700 108,600 32,700 The company uses an income summary account in the closing process. Post-Closing Balance in Retained Earnings: Retained earnings, December 31, 2022 Retained earnings, December 31, 2023 108,300 38,300 26,820 262,150. 119,800 Required: 1. Assuming normal balances, prepare the closing entries at December 31, 2023, the company's year-end. 2. Calculate the post-closing balance in Retained Earnings at December 31, 2023. (Amounts to be deducted should be indicated by a minus sign.)