Parker Company had the following adjusted trial balance: Credit Debit $21,390 16,440 7,830 43,900 $6,700 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock Retained Earnings Dividends Commission Revenue Rent Revenue Depreciation Rente Utilities Expense Supplies Expense 3,860 1,530 22,970 20,900 15,600 63,000 7,300 5,500 10,000 5,600 $126,260 Total $126,260 The president of Parker 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: During the closing process, what amount was transferred from the income Summary account to the Batained Earnings account in the third closing entry (ie, after revenue and expense accounts have been closed to Income Summary)? What is the balance in the commission revenue account? 30 SO What is the balance in the Retained Earnings account