16. A company has 2018 Revenues of $2312 and 2018 expenses of $1212. Its retained earnings on January 1, 2018 were $500. Dividends declared during the year were $400. After the closing entries on December 31 2018, what would be the new value of retained earnings? A) $1200 500+ 2000-400 02 B) $1600 C) $2000 D) There is not enough information to say BIOS 17. A trial balance prepared after the closing entries have been posted would show a zero balance in which one of the following accounts? A. Inventory B Accounts receivable Accumulated depreciation D. Income tax expense 18. A company purchased a computer, office furniture, and office supplies by issuing a check for $5,000 and a note payable for $19,500. The list price of the items was $26,300. The total recorded value of the items is: A) $26,300 B) $19,500 C) $31,300 D) $24,500