The adjusted trial balance of Ward Company at the end of the accounting year, December 31, 20X2, showed the following:
Adjusted Trial Balance
Account Titles		Debits	Credits
Cash			$20,000
Machinery		90,000
Accumulated Depreciation		16,000
Trade Payables			7,000
Share Capital			20,000
Retained Earnings			59,000
Service Revenue			40,000
Interest Expense		4,000
Operating Expenses		17,000
Depreciation Expense	8,000
Dividends declared and paid	3,000
Totals			$142,000	$142,000
1) Give all the required closing entries for Ward Company at December 31, 20X2. (You need not use the Income Summary account).
2) The 20X2 ending balance in retained earnings was $ ________
Required
1) Prepare all of the closing entries for Ward company at December 31, 20x2
2) The 20x2 ending balanc ein retained earnings would be how much?