The information for Mr$.$ Brown's Dayspa for Horses for $12/31/24$ is listed below.

$\backslash$table$[[$Accounts Payable,$3,000,$Notes Payable,$12,000],[$Accounts Receivable,$6,500,$Notes Receivable,$50,000],[$Accumulated Depreciation $-$ Equipment,$5,500,$Office Supplies,$18,000],[$Cash$,33,000,$Prepaid Rent,$10,000],[$Common Stock,$12,000,$Retained Earnings, Beginning,$100,000],[$Deferred Revenue,$18,000,$Salary Expense,$125,000],[$Depreciation Expense,$5,000,$Service Revenue,$348,500],[$Dividends$,5,000,$Utilities Expense,$9,000],[$Equipment$,15,500,,]]$

$($a$)$ Please record the closing entries for $12/31/24.$

$($b$)$ Calculate the balance of the retained earnings account after the closing entries have been posted.

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$