26. Frank Langella opened a motion picture production company. At the end of the year, he was musing over his adjusted trial balance (shown below). He must prepare financial statements for his investors. Adjusted Trial Balance December 31, 2018 Dr. Cr. $ 94,005 31,500 5.000 2,500 80,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable Interest Payable Notes Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Dividends Service Revenue Salaries and Wages Expense Insurance Expense Interest Expense Depreciation Expense Supplies Expense Rent Expense Totals $ 35,000 5,000 1,500 100,000 1,560 14,363 10,000 13,500 3,743 92,500 30,425 1,850 10,000 7,000 3,400 4,000 $273,423 $273,423 What is Frank's Net Income and what is his ending balance of Retained Earnings? A. Net Income $35,825, Retained Earnings $13,500 B. Net Income $35,825, Retained Earnings $45,582 C. Net Income $92,500, Retained Earnings $49,325 D. None of these responses is correct