closing entries. All amounts are in millions of dollars. Wendy's fiscal year ended on December 29, Wendy's Adjusted Trial Balance December 29, 2019 (All amounts in millions of dollars) Debits Credits Cash and other current assets 554 I Property and equipment, net 977 Goodwill and other noncurrent assets 3,464 Accounts payable and other current liabilities 350 Long-term liabilities 4,128 Common stock 47 Retained earnings 429 Dividends 96 Sales Investment income Cost of sales General and administrative expense 1,709 33 Advertising expense Depreciation and amortization expense Interest expense Income tax expense Totals 597 379 338 132 124 35 $ 6,696 $ 6,696 1. Wendy's journal entry to close the revenue and expense accounts includes a: a. Debit to Sales for $1,709 million. b. Debit to Advertising expense for $338 million. c. Debit to Retained earnings for $137 million. d. Credit to Retained earnings for $429 million. 2. The Retained Eamings balance shown on Wendy's December 29, 2019 balance sheet (i.e., ENDING Retained earnings) is: a. $429 million. b. $470 million. c. $566 million. d. $662 million.