Capn Company began the current period with a $22,000 credit balance in the Retained Earnings account. At the end of the period, the company's adjusted account balances include the following temporary accounts with normal balances. Services revenue Salaries expense Depreciation expense $ 84,000 Interest revenue 44,500 Dividends 11,200 Utilities expense $9,000 25,000 6,200 1. After closing the revenue and expense accounts, what is the balance of the Income Summary account? Credit Step 1: Close Revenues to Income Summary Services revenue Interest revenue Income Summary Debit 84,000 9,000 93,000 Debit Credit Step 2: Close Expenses to Income Summary Income Summary Salaries expense Depreciation expense Utilities expense Income Summary 93,000 Revenues 2. After all closing entries are journalized and posted, what is the balance of the Retained Earnings account? Step 3: Close Income Summary to Retained earnings Debit Credit Income Summary Depreciation expense Dividends Income Summary Interest revenue Retained earnings Retained Earnings Account 22.000 Dividends 2. After all closing entries are journalized and posted, what is the balance of the Retained Earnings account? Step 3: Close Income Summary to Retained earnings Debit Credit Income Summary Interest revenue Retained earnings Salaries expense Services revenue Utilities expense Retained Earnings Account 22,000 Dividends Income Summary Step 4: Close Dividends Depreciation expense Retained Earnings Account 22,000 Dividends Income Summary Interest revenue 2. After all closing entries are journalized and posted, what is the balance of the Retained Earnings account? Step 3: Close Income Summary to Retained earnings Debit Credit income Summary Step 4: Close Dividends Retained Earnings Account 22,000 Depreciation expense Dividends Income Summary Interest revenue