The Adjusted Trial Balance of Ward Company at the End

The adjusted trial balance of Ward Company at the end of the accounting year, December 31, 20X2, showed the following: $\begin{array}{|c|c|c|}\hline&&\text { Adjusted Trial Balance }\\ \hline \text { Account Titles } & \text { Debits } & \text { Credits } \\\hline \text { Cash } & \$ 20,000 & \\\hline \text { Machinery } & 90,000 & \\\hline \text { Accumulated Depreciation } & & 16,000 \\\hline \text { Trade Payables } & & 7,000 \\\hline \text { Share Capital } & & 20,000 \\\hline \text { Retained Earnings } & & 59,000 \\\hline \text { Service Revenue } & & 40,000 \\\hline \text { Interest Expense } & 4,000 & \\\hline \text { Operating Expenses } & 17,000 & \\\hline \text { Depreciation Expense } & 8,000 & \\\hline \text { Dividends declared and paid } & 3,000 & \\\hline \text { als } & \$ 142,000 & \$ 142,000 \\\hline\end{array}$

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 $ ________