ing is a partial list of account balances for the Gration Company at December 31,2011 18. The following a Cash Accounts receivable 87,450 24,800 197,450 Inventory Supplies Land Accounts payable Common stock Retained earnings Sales Cost of goods sold Salaries expense Utilities expense Other operating expense 3,600 134.800 47,500 300,000 78,250 490,350 399,250 36,250 9,500 30,000 7,000 Gain on sale of land 1. After the temporary accounts are closed, what is the balance of Retained Earnings? 2. From the above information, prepare: a. A multi-step income statement. A nswer