Spicer Inc. showed the following alphabetized list of adjusted account balances at December 31, 2020 Accounts Payable Accounts Receivable Accumulated depreciation. Equipment Recumulated depreciation, Warehouse Cash Cash Dividends Common Shares Equipment Income Tax Expense Land Notes Payable, due in 2023 Operating Expenses Prefected Shares Betained Earnings Bevenue Rarehouse $ 25, 560 39,000 10, 540 21.080 8, 200 19,400 110,000 78.200 40,400 115,600 33,400 109,000 39,000 2,520 269, 300 126, 800 The company uses an income summary account in the closing process. Required: 1. Assuming normal balances, prepare the closing entries at December 31, 2020, the company's year-end View transaction list View journal entry worksheet ta General Journal Debit Credit Date December 31 2020 Revenue 269,550 Income summary 269,600 2 December 31 2020 Income summary Operating expenses 105.000 1. My 1 VITRI VUILIR.CO, Picpu UFC LIVOHITY CHICO UEWELCHILCI JI, ZUZU, UIC Liputy > ycuic. View transaction list View journal entry worksheet No General Journal Debit Credit Date December 31 2020 1 Revenue 269,550 Income summary 269,500 2 N December 31 2020 Income summary Operating expenses Income tax expense 109,000 40.400 3 December 31. 2020 Income summary Retained earnings 4 December 31 2020 Retained earnings 19,400 Cash dividends 19,400 2. Calculate the post-closing balance in Retained Earnings at December 31, 2020. (Amounts to be deducted should be Indicated by a minus sign.) 27.520 Post Closing Balance in Retained Earnings: Retained earnings December 31, 2019 s Add: Pratit Cash dividends Retained earnings. December 31, 2020 19,400