Mission Incorporated experienced the following events in Year 1, its first year of operation: 1. Received $127,000 cash from the issue of common stock. 2. Performed services on account for $90,000. 3. Paid $34,000 cash for operating expenses. 4. Paid a $5,900 cash dividend to the stockholders. Required a. What is the before- and after-closing balance in the Service Revenue account? What other accounts would be closed at the end of the accounting cycle? b. What is the balance of the Retained Earnings account that appears on the Year 1 balance sheet? Complete this question by entering your answers in the tabs below. Req A1 Req A2 Answer is not complete. Req B What is the before- and after-closing balance in the Service Revenue account? Service Revenue before Closing $177,100 X Service Revenue after Closing

Mission Incorporated experienced the following events in Year 1, its first year of operation: 1. Recelved $127,000 cash from the issue of common stock. 2. Performed services on account for $90,000. 3. Paid $34,000 cash for operating expenses. 4. Paid a $5,900 cash dividend to the stockholders. Required a. What is the before- and after-closing balance in the Service Revenue account? What other accounts would be closed ot the end of the accounting cycle? b. What is the balance of the Retained Earnings account that appears on the Year 1 balance sheet? Q Answer is not complete. Complete this question by entering your answers in the tabs below. What is the before- and after-closing balance in the Service Revenue account