The Retained earnings account has a credit balance of $37,000 before closing entries are made. If total revenues for the period are $55,200, total expenses are $39,800, and dividends are $9,000, what is the ending balance in the Retained earnings account after all closing entries are made?
A. $43,400.
B. $37,000.
C. $35,400.
D. $28,000.
E. $52,400.
Answer: A
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