Preparing Closing Journal Entries Selected financial information from General Mills as of May 29, 2016 follows. $ millions Debit Credit $16,563.1 Net sales. ....... Cost of sales. .............. Selling, general, and administrative expense and other Interest expense, net ....... Income tax expense.. .................... .................. Retained earnings ........ $10,733.6 3,073.1 303.8 755.2 11,990.8 Assume the company has not yet closed any accounts to retained earnings. Prepare journal entries to close the temporary accounts above. Set up the needed T-accounts, and post the closing entries. After these entries are posted, what is the balance of the retained earnings account