The following accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash$4,000 Accounts receivable$3,400 Dividends$2,000 Common stock$3,900 Land$3,200 Revenue$3,200 Accounts payable$1,800 Expense$2,200 The amount of Carolina's retained earnings after closing on December 31, Year 1 was:
A. $4,900.
B. $5,900.
C. $7,200.
D. $3,900.
Answer: A
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