3 of 6 (2 complete) Score: 0 of 10 pts E4-23 (similar to) Victor Insurance Agency started the year with a beginning Retained Earnings balance of $27,000. During the year, Victor Insurance Agency earned from the business were paid to stockholders. After the closing entries are recorded and posted, what will be the balance of Retained Earnings? Post the beginning balance and closing entry amounts to the Retained Earnings account. Use a "Bal" posting reference to show the beginning and amounts that are posted while closing the books. The revenue and expense amounts should be combined into one closing entry for net income (like Retained Earnings a cuestion Help Question Help 7,000. During the year, Victor Insurance Agency earned $33,000 of Service Revenue and incurred $22,000 of various expenses. Dividends of $16,000 ted, what will be the balance of Retained Earnings? Jse a "Bal." posting reference to show the beginning and ending balance of the Retained Earnings account. Use a "Clos." posting reference to show the ld be combined into one closing entry for net income (like you are closing the Income Summary account)