Closing entries included debits to revenues for a total of $8,400 credits to expenses for a total of $4,200, and a credit to dividends for $1,150. The net change in Retained Earnings for the month was:
A) cannot be calculated with the information provided.
B) $3,050.
C) $4,200.
D) $5,350.
B) $3,050.
Explanation: revenues - expenses - dividends = change in RE. Ex: $8,400 - $4,200 - $1,150 = $3,050.
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