James Company had the following adjusted trial balance: Credit Account Titles Cash Accounts Receivable Debit $22,590 15,820 8,070 39,300 $8,300 Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock Retained Earnings Dividends Commission Revenue 3,770 1,800 29,210 21,9 13,000 48,8 6,6 Rent Revenue Depreciation Expense Utilities Expense 7,100 9,100 5,400 $ 120,380 Supplies Expense Total $120,380 The president of James Company has asked you to close the books (prepare and process the closing entries). Required: After the closing process has been completed, answer the following questions: S 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)? What is the balance in the dividends account? What is the balance in the Retained Earnings account? so so