Thomas Company had the following adjusted trial balance: 1 Credit Debit $25,860 17,100 7.900 43,600 $8,800 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Rent Revenue Capital Stock Retained Earnings Dividends Commission Revenue Rent Revenue 4,470 2,000 29,290 20,700 14,000 56.800 7,300 Depreciation Expense Utilities Expense 5,600 10,000 5,300 $129,360 Supplies Expense Total $129,360 The president of Thomas 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: SO What is the balance in the Retained Earnings account? During the closing process, what amount was transferred from the income summary account to the Retained Earnings account in the third closing entry (i.e., after revenue and expense accounts have been closed to Income Summary)? What is the balance in the dividends account? ] SO