Step 4: Close Dividends \begin{tabular}{|c|r|r|} \hline Dividends & & \\ \hline \multicolumn{2}{|c|}{} & \\ \hline & Retained Earnings Account \\ \hline Beginning balance & & 30,000 \\ \hline & & 0 \\ \hline Dividends & & \\ \hline & & \\ \hline \end{tabular}