Spicer Inc. showed the following alphabetized list of adjusted account balances at December $31,2023$:

Accounts Payable $ $24,760$

Accounts Receivable $38,200$

Accumulated depreciation, Equipment $10,140$

Accumulated depreciation, Warehouse $20,280$

Cash $7,400$

Cash Dividends $18,600$

Common Shares $102,000$

Equipment $77,400$

Income Tax Expense $39,600$

Land $107,600$

Notes Payable, due in $202632,600$

Operating Expenses $108,200$

Preferred Shares $38,200$

Retained Earnings $26,720$

Revenue $261,100$

Warehouse $118,800$

The company uses an income summary account in the closing process.

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.$)$