Use T-Mobile US, Inc.'s adjusted trial balance to answer the next two questions. It was prepared BEFORE closing entries. All amounts of in millions of dollars. Credits T..Mobile Adjusted Trial Balance December 31, 2020 Debits Cash and other current assets 23,885 Property and equipment, net 41,175 Goodwill and other long-term assets 135,102 Accounts payable and other current liabilities Long-term liabilities Common stock Retained earnings Dividends 19 Service revenues Sales revenue Cost of goods sold 28,266 Depreciation expense 14,151 Selling, general and administrative expenses 19,344 Interest expense 2,786 Income tax expense 786 Totals $ 265,514 21,703 113,115 61,772 527 50,395 18,002 $ 265,514 5. T-Mobile's journal entry to close the revenue and expense accounts should include a: a. Credit to Sales revenue for $18,002 million. b. Debit to Income tax expense for $786 million. c. Debit to Retained earnings for $527 million. d. Credit to Retained earnings for $3,064 million. 6. The Retained earnings balance shown on T-Mobile's December 31, 2020 balance sheet (1.e., ENDING Retained earnings) is: a. $3,610 million b. $3,591 million c. $3,572 million d. $527 million. 7. On October 9, 2021, Plum Corporation sold merchandise to a customer for $2,000,000 on credit, terms 2/10, n/30, FOB destination. Cost of the merchandise sold was $1,200,000. The customer paid for the purchase on October 14. Plum uses periodic inventory system. What account should Plum Corporation debit when recording the October 14 entry? a. Cash for $1,960,000. b. Accounts Receivable for $1,960,000. c. Cash for $2,000,000. d. Accounts Receivable for $2,000,000 8. Lion, Inc, purchased merchandise from a supplier on October 1, 2021, for $100,000 on account, terms 1/10, n/30. What entry would Lion use to record this purchase if the company uses perpetual inventory system. a. Accounts Payable 100,000 Inventory 100,000 b. Purchases 99,000 Accounts Payable 99,000 c. Inventory 99,000 Accounts Payable 99,000 d. Inventory 100,000 Accounts Payable 100,000 9. On a multiple-step income statement, income from operations is arrived at after considering all except: a administrative salaries. b. interest expense c. marketing expense. d. cost of goods sold