Regis Corporation operates hair salons under various brand names including Supercuts, Mia & Maxx, and Style America. The following is a simplified list of accounts and amounts (in millions) reported in the company’s accounts for the year ended June 30, 2013.

Required:
1. Prepare an adjusted trial balance at June 30, 2013. Is the Retained Earnings balance of $500 the amount that would be reported on the balance sheet as of June 30, 2013?
2. Prepare the closing entry required at June 30, 2013.
3. Prepare a post-closing trial balance at June 30, 2013.