Lotus Company's accounting records show a \$ \(\$ 27,400\) balance in its Retained Earnings account on January 1, 2011. During the 2011 accounting cycle Lotus earned \(\$ 15,200\) of revenue, incurred \(\$ 10,700\) of expense, and paid \(\$ 600\) of dividends. Revenues and expenses were recognized evenly throughout the accounting period.

Required

a. Determine the after-closing balance in the Retained Earnings account as of December 31, 2010.

b. Determine the before-closing balance in the temporary accounts as of December 31, 2011.

c. Determine the after-closing balance in the Retained Earnings account as of December 31, 2011.

d. Determine the balance in the Retained Earnings account as of June 30, 2011.