After all revenue and expense accounts have been closed at the end of the fiscal year, Income Summary has a debit of $781,400 and a credit of $946,800. At the same date, Retained Earnings has a credit balance of $1,449,000, and Dividends has a balance of $30,000. Required: A. Journalize the entries required to complete the closing of the accounts on December 31. B. Determine the amount of Retained Earnings at the end of the period.

Required: 1-a. the marketing manager argues that a $5,000 increase in the monthly advertising budget would increase monthly sales by $9,000. calculate the increase or decrease in net operating income. 1-b. should the advertising budget be increased ? yes no hintsreferencesebook & resources hint #1 check my work 8.value: 1.00 pointsrequired information 2-a. refer to the original data. management is considering using higher-quality components that would increase the variable expense by $2 per unit. the marketing manager believes that the higher-quality product would increase sales by 10% per month. calculate the change in total contribution margin. 2-b. should the higher-quality components be used? yes no