Exercise 1-23 Retained earnings and the closing process LO 1-5, 1-6 As of December 31, 2014, Blue Haven Company had total assets of $40,000, total liabilities of $12,000, and common stock of $20,000. The companys 2014 income statement contained revenue of $6,000 and expenses of $4,000. The 2014 statement of changes in stockholders equity stated that $500 of dividends were paid to investors. Required a. Determine the before-closing balance in the Retained Earnings account on December 31, 2014. b. Determine the after-closing balance in the Retained Earnings account on December 31, 2014. c. Determine the before-closing balances in the Revenue, Expense, and Dividend accounts on December 31, 2014. d. Determine the after-closing balances in the Revenue, Expense, and Dividend accounts on December 31, 2014.