The Retained earnings account has a credit balance of $21,250 before closing entries are made. If total revenues for the period are $67,700, total expenses are $49,300, and dividends are $11,250, what is the ending balance in the Retained earnings account after all closing entries are made?
A. $28,400.
B. $10,000.
C. $21,250.
D. $39,650.
E. $18,400.
Answer: A
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