Spicer Inc. showed the following alphabetized list of adjusted account balances at December 31, 2020: Accounts Payable Accounts Receivable Accumulated depreciation, Equipment Accumulated depreciation, Warehouse Cash Cash Dividends Common Shares Equipment Income Tax Expense Land Notes Payable, due in 2023 Operating Expenses Preferred Shares Retained Earnings Revenue Warehouse $ 24,860 38,3ee 10,190 20,388 7,5ee 18,7ee 103,000 77,5ee 39,700 108,6ee 32,700 1e8, 3ee 38,3ee 26,828 262,150 119,8ee 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 Journal entry worksheet Record to close the revenue account to the income summary. Note: Enter dette before credits General Journal Deb Credit Date December 31, 2020 2. Calculate the post-closing balance in Retained Earnings at December 31, 2020. (Amounts to be deducted should be indicated by minus sign.) Pont-Closing Balance in Retained Earnings Retained earrings, December 31, 2019 Retained earnings, December 31, 2020