After all revenue and expense account have been closed at the end of the fiscal year, Income

Question:

After all revenue and expense account have been closed at the end of the fiscal year, Income Summary has a debit of $315,000 and a credit of $449.500. At the same date, Retained Earnings has a credit balance of $750,000, and Dividends has a balance of $40,000.
(a) Journalize the entries required to complete the closing of the accounts.
(b) Determine the amount of Retained Earnings at the end of the period.