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$101,200?Retained earnings 98,000?Dividends 35,000?
A. $199,200.
B. $230,400.
C. $841,800.
D. $164,200.
E. $101,200.
Answer: D
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