2. A bookkeeper prepared the year-end financial statements of Christmas Time, Inc. The income statement showed net loss of S6,500, and the balance sheet showed beginning retained earnings of $40,000. Dividends totaling S7,500 were declared and paid during the year. The firm's accountant reviewed the bookkeeper's work and determined that adjusting entries should be made that would increase revenues by S3,000, and increase expenses by $1,250. (worth S points each) a. What will be the amount of net income after the above adjustments are recorded? b. What was the ending retained earnings balance on the balance sheet as originally prepared by the bookkeeper? c. What is the correct ending balance in retained earnings to be reported on the balance sheet