VIII. Below is the adjusted trial balance for Pierce Corp. at December 31, 2019: Account Debit Credit Cash 30,000 Accounts receivable 25,000 Supplies 5,000 Prepaid rent 14,000 Equipment 64,000 Accumulated depreciation - equip. 12,000 Land 20,000 Accounts payable 18,000 Salaries payable 7,000 Notes payable 25,000 Interest payable 3,000 Paid-in capital 40,000 Retained earnings (a) 23,000 Dividends 10,000 Sales 330,000 Cost of goods sold 170,000 Rent expense 20,000 Insurance expense 25,000 Interest expense 2,000 Depreciation expense 33,000 Supplies expense 5,000 Salaries expense 35,000 Totals 458,000 458,000 (a) Note: Retained earnings balance on January 1, 2019. Required: 15 pts.) (1) In the General Journal, prepare closing entries at December 31, 2019. (2) Compute the Retained Earnings balance at December 31, 2019