Exercise 1-23A Retained earnings and the closing process LO 1-9 As of December 31, Year 1. Flowers Company had total assets of $170,000, total liabilities of $51,000, and common stock of $85,000. The company's Year 1 income statement contained revenue of $30,000 and expenses of $18,000. The Year 1 statement of changes in stockholders' equity stated that $2,700 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. Complete this question by entering your answers in the tabs below. Reg A and B ReqC and D Determine the before closing balance and the after closing balance in the Retained Earnings account on December 31, Year 1. a Retained earnings before closing b. Retained earnings after closing Reg C and D >