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Use this end-of-period spreadsheet to answer the question that follows. Finley Company End-of-Period...

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Accounting

Use this end-of-period spreadsheet to answer the question that follows.
Finley Company
End-of-Period Spreadsheet
For the Year Ended December 31
\table[[Account Title,Adjusted Trial Balance,Income Statement,Balance Sheet],[Debit,Credit,Debit,Credit,Debit,Credit],[Cash,16,000,,,,16,000,],[Accounts Recelvable,6,000,,,,6,000,],[Supplies,2,000,,,,2,000,],[Equipment,19,000,,,,19,000,],[Accumulated Depr.,,6,000,,,,6,000],[Accounts Payable,,10,000,,,,10,000],[Wages Payable,,2,000,,,,2,000],[Common Stock,,5,000,,,,5,000],[Retained Earnings,,10,759,,,,10,759],[Dividends,1,000,,,,1,000,],[Fees Earned,,41,090,,41,090,,],[Wages Expense,19,615,,19,615,,,],[Rent Expense,6,687,,6,687,,,],[Depreciation Expense,4,547,,4,547,,,],[74,849,\table[[74,849]],30,849,41,090,44,000,33,759],[Net Income,,,10,241,,,10,241],[,,41,090,41,090,44,000,44,000]]
The effect of closing revenues and expenses to Retained Earnings will be to:
. Increase Resained Earnings by $10.241
4. decricuse Relamed Farnitugs by $10.241
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