Retained Earnings account. At the end of the period, the its with normal balances

Capri Company began the current period with a $23,000 credit balance in the Retained Earnings account. At the end of the period, the company's adjusted account balances include the following temporary accounts with normal balances. Services revenue Salaries expense Deprec iation expense $ 100, 000 Interest revenue 43 , 500 Dividends 10, 800 Utilities expense $ 8,800 22,500 6,100 1. After closing the revenue and expense accounts, what is the balance of the Income Summary account? tep 1: Close Revenues to Income Summary tep 2: Close Expenses to Income Summary Debit Debit Credit Credit Income Summary 2. After all closing entries are journalized and posted, what is the balance of the Retained Earnings account? tep 3: Close Income Summary to Retained earnings tep 4: Close Dividends Beginning balance Dividends Debit Credit Retained Earnings Accoun 23,000