11 189 Dividends Service Revenue Salaries Expense Depreciation Supplies Expense 86 26 16 $372 $372 Required: Provide a full-written solution to explain how the correct answer is determined. 1 What is the balance in Income Summary before it is closed to retained Earnings? a $61. b $50 c $73 d $145. 2 What is the balance in Retained Earnings after posting closing entries at December 31? a $117. b $106. c $61. d $45. 3 What is the total debits on the after-closing trial balance? a $222 b $372 c $233 d $161. 4 Which accounts are closed to Income Summary? All accounts b Revenue and expenses. c Revenue, expenses, and dividends. d All accounts that are not nominal. 5 Which accounts will appear on the balance sheet? a Retained earnings of $56. b Dividends of $11. c Net income of $60. d None of the above