Powell Company had the following adjusted trial balance: Account Titles Credit Cash Debit $20.390 17.800 Accounts Receivable Supplies 7,690 44,900 Equipment $ 7,100 Accumulated Depreciation Accounts Payable Deferred Rent Revenue 4,000 1,950 36,630 21,900 Capital Stock Retained Earnings Dividends 16,000 Commission Revenue 50,400 5,200 Rent Revenue 6,100 Depreciation Expense Utilities Expense 9.200 Supplies Expense 5,100 Total $127,180 S127.180 The president of Powell Company has asked you to close the books (prepare and process the The president of Powell 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 Retained Earnings account in the third closing entry (le, after revenue and expense accounts have been closed to Income Summary What is the balance in the Retained Earnings account? What is the balance in the supplies expense account