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The Retained earnings account has a credit balance of $28,900 before closing entries are made....

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Question

Accounting

The Retained earnings account has a credit balance of $28,900 before closing entries are made. If total revenues for the period are $90,200, total expenses are $66,400, and dividends are $15,300, what is the ending balance in the Retained earnings account after all closing entries are made?

Multiple Choice

  • $52,700.

  • $23,800.

  • $37,400.

  • $13,600.

  • $28,900.

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