As of December 31, Year 1, Flowers Company had total assets of $40,000, total liabilities of $12,000, and common stock of $20,000. The company's Year 1 income statement contained revenue of $6,000 and expenses of $4,000. The Year 1 statement of changes in stockholders' equity stated that $500 of dividends were paid to investors. Required a. Determine the before closing balance in the Retained Earnings account on December 31, Year 1. b. Determine the after-closing balance in the Retained Earnings account on December 31, Year 1. c. Determine the before closing balances in the Revenue, Expense, and Dividend accounts on December 31, Year 1. d. Determine the after-closing balances in the Revenue, Expense, and Dividend accounts on December 31, Year 1. ok ences Complete this question by entering your answers in the tabs below. Reg A and B Reg C and D Determine the before closing balance and the after closing balance in the Retained Earnings account on December 31, Year 1. Retained earnings before closing Retained earnings after-closing $ 8.000 Reg Cand D > As of December 31, Year 1, Flowers Company had total assets of $40,000, total liabilities of $12,000, and com The company's Year 1 income statement contained revenue of $6,000 and expenses of $4,000. The Year 1 sta stockholders' equity stated that $500 of dividends were paid to investors. Required a. Determine the before closing balance in the Retained Earnings account on December 31, Year 1. b. Determine the after-closing balance in the Retained Earnings account on December 31, Year 1. c. Determine the before closing balances in the Revenue, Expense, and Dividend accounts on December 31, Ye d. Determine the after-closing balances in the Revenue, Expense, and Dividend accounts on December 31, Year Complete this question by entering your answers in the tabs below. Reg A and B Reh and D Determine the before-closing balances and the after-closing balances in the Revenue, Expense, and Dividend accounts December 31, Year 1. (Leave no cells blank - be certain to enter "0" wherever required.) After-closing Revenue Expenses Dividends Before-closing $ 6,000 $ 4,000 $ 500