Exercise $2-20$A $($Algo$)$ Closing entries LO $2-4$

Love Company$$s accounting records show an after$-$closing balance of $$19,800$ in its Retained Earnings account on December $31,$ Year $5.$ During the Year $5$ accounting cycle, Love earned $$15,900$ of revenue, incurred $$9,600$ of expense, and paid $$1,900$ of dividends. Revenues and expenses were recognized evenly throughout the accounting period.

Required:

Determine the balance in the Retained Earnings account as of January $1,$ Year $6.$

Determine the balance in the temporary accounts as of January $1,$ Year $5.$

Determine the after$-$closing balance in the Retained Earnings account as of December $31,$ Year $4.$

Determine the balance in the Retained Earnings account as of June $30,$ Year $5.$