can someone help with these closing entires and then explain how you hot thr retained earnings balance after closing entries? Thank you

question #54 Below is a partial list of accounts after adjusting but before closing entries. Al are normal account balances. Prepare closing entries (dated 12/31) to close all appropriate accounts Accounts Receivable $1.000 Allowance for Doubtful Accounts $150 Accumulated Depreciation....$6,000 Common Stock $30,000 Retained Eamings (Beg Bol). $2,500 Dividends $1,500 Sales $20,000 Sales Returns & Allowances $400 Cost of Goods Sold. $7,000 Depreciation Expense $1.000 Salaries Expense $4,000 What is the 12/31 balance in Retained Earnings after Closing Entries