51. The following data are available from the records of Jazz, Inc.: 15 points

Retained earnings, January 1, 2016 ...................	$115,000
Net sales ............................................	490,000
Interest expense .....................................	5,000
General and administrative expenses ..................	95,000
Cost of goods sold ...................................	220,000
Selling expenses .....................................	115,000
Dividend revenue .....................................	10,000
Dividends declared in 2016 ...........................	25,000
Dividends paid in 2016...............................	19,250
Income tax rate ......................................	30%
Common stock outstanding during the year .............	50,000 shares @ 1.00
Common stock authorized ..............................	100,000 shares

Prepare a single-step income statement for Jazz, Inc. for the year ended 12/31, 2016. Jazz, Inc. Income Statement For the Year Ended December 31, 2016
Revenues:
Costs and expenses:
Income tax expense [.30 (
Total costs and expenses ..............
Net income ................................		$
Earnings per common share ($)		$

52. What is the Retained earnings balance after the closing entries on December 31, 20156 Show the increase or decrease from the items in 2016 below.