Information from the 2005 income statement for Campbell Soup Company is shown below.

Using the information from the income statement, perform the following:
1. Prepare the entries made by Campbell to close the 2005 revenue and expense accounts to Retained Earnings.
2. Campbell Soup paid dividends of $280 million in 2005. Provide the entry made to close the dividends account to Retained Earnings.
3. If the beginning balance in Campbell's Retained Earnings was $5,642 million, what would the ending balance be after the above closing entries have been posted?

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(in millions, except per-share amounts) Net Sales Costs and expenses 2005 2004 2003 $7,548 $7,109 $6,678 4,491 1,185 571 95 4,187 1,153 542 93 (13) 32 5,994 3,805 1,145 507 08 59 Cost of products sold Marketing and selling expenses Administrative expenses Research and development expenses Other expenses Restructuring charge Total costs and expenses 6,338 5,604 $1,210 184 $1,115 174 $1,074 186 Earnings Before Interest and Taxes Interest expense Interest income Earnings before taxes Taxes on earnings Net Earnings 1,030 323 $ 707 947 300 $ 647 893 298 $ 595