Requirement 2. A T-account for Retained Earnings has been set up Post to that account. Then compute Cool River's net income for the year ended March 31,2012. What is the ending balance of Retained Earnings? Post the closing entries to Retained Earnings in a T-account and determine the ending balance. (Enter the beginning balance on the first line. Post the closing entries in the order the entries were prepared in the journal. Leave any unused cells blank.) Retained Earnings The net income for 2012 was $ . The ending balance of Retained earnings was $ Requirement 3. Did Retained Earnings increase or decrease during the year? What caused the increase or decrease? Retained earnings during 2012 becauseNow close the dividends account Requirement 1. All adjustments have been journalized and posted but the closing entries have not yet been made Journalize Cool River's closing entries at March 31, 2012. Record the closing entries for Cool River at March 31, 2012. Begin by closing the revenue account