Hughes Company had the following adjusted trial balance: Account Titles Debit Credit Cash $29,040 Accounts Receivable 19,000 Supplies 9,610 Equipment 35,400 Accumulated Depreciation $6,500 Accounts Payable Deferred Rent Revenue Capital Stock 4,320 2,280 35,250 Retained Earnings 22,900 Dividends 15,900 Commission Revenue 49,400 Rent Revenue 7,100 Depreciation Expense 5,500 Utilities Expense 7,800 Supplies Expense 5,500 Utilities Expense Supplies Expense Total 7.800 5,500 $127,750 $127,750 The president of Hughes Company has asked you to close the books (prepare and process the closing ent Required: After the closing process has been completed, answer the following questions: What is the balance in the dividends $ account? What is the balance in the Retained Earnings account? $ During the closing process, what amount was transferred from the income summary account to the Retained Earnings account in the third closing entry (i.e., after revenue and expense accounts have been closed to Income Summary)? G