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

Accounts Payable $ $26,360$

Accounts Receivable $39,800$

Accumulated depreciation, Equipment $10,940$

Accumulated depreciation, Warehouse $21,880$

Cash $9,000$

Cash Dividends $20,200$

Common Shares $118,000$

Equipment $79,000$

Income Tax Expense $41,200$

Land $123,600$

Notes Payable, due in $202634,200$

Operating Expenses $109,800$

Preferred Shares $39,800$

Retained Earnings $28,320$

Revenue $277,900$

Warehouse $134,800$

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.$)$