1.Szabo Inc. has the following general ledger account balances at December 31, 2019:

Dividends	3,000
Selling expenses	21,000
Service revenue	38,500
Unearned revenue	2,900
Unused supplies	2100
Utilities expense	3,600
Wages expense	6,900

Assuming this is the first year of operations, what is the balance in the Retained Earnings account after the closing process?

2.

A corporation has the following account balances on September 30, 2015:

Accounts Payable	2,500
Accounts Receivable	5,200
Advertising Expense	450
Cash	1,500
Dividends paid	1,000
Retained Earnings	1,690
Service Revenue	4,500
Common Stock	1,500
Unused Supplies	200
Wages Expense	2,200

What is the balance of the Income Summary account before it is closed to Retained Earnings?

3.If there is a net loss there will be a ___________ balance in the Income Summary account before moving the balance to Retained Earnings

A.Debit

B.Credit

C.Not determinable

D.zero