The following balances are available from the unadjusted trail balance below for 2016. ...
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Accounting
The following balances are available from the unadjusted trail balance below for 2016.
| Account | Balance |
| Cash | $ 12,000 |
| Accounts Receivable | 3,000 |
| Inventory | 5,000 |
| Investments | 2,500 |
| Accounts Payable | 4,000 |
| Dividends Payable | 2,000 |
| Bonds Payable | 4,500 |
| Sales Revenue | 10,000 |
| Service Revenue | 1,000 |
| COGS | 7,000 |
| Wage Expense | 1,000 |
| Rent expense | 500 |
| Dividends Declared | 450 |
| Common stock | 2,000 |
| Retained earnings on of 1/1/2016 | $ 11,950 |
After the necessary closing entry for 2016, what will be the ending 2016 balance of retained earnings?
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