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

Accounts Payable $ $25,660$

Accounts Receivable $39,100$

Accumulated depreciation, Equipment $10,590$

Accumulated depreciation, Warehouse $21,180$

Cash $8,300$

Cash Dividends $19,500$

Common Shares $111,000$

Equipment $78,300$

Income Tax Expense $40,500$

Land $116,600$

Notes Payable, due in $202633,500$

Operating Expenses $109,100$

Preferred Shares $39,100$

Retained Earnings $27,620$

Revenue $270,550$

Warehouse $127,800$

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.$)$