The following information is available for Cubic Company before closing the accounts. After all closing entries are made, what will be the balance in the Retained earnings account? Net income$115,000Retained earnings 110,000Dividends 39,000
A. $264,000.
B. $115,000.
C. $225,000.
D. $956,000.
E. $186,000.
Answer: E
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