A record in which the effects of transactions are first recorded and from which transaction amounts posted to the ledger is a(n): Account. Trial balance. Journal. T-account. Balance column account. Using the information in the table, calculate the company's reported net income for the period. Smiles Entertainment had the following accounts and balances at December 31: $1,100. $4,000. $4,500. $10,400. $5,500. When closing entries are made: All ledger accounts are closed to start the new accounting period. All temporary accounts are closed but permanent accounts are not closed. All real accounts are closed but nominal accounts are not closed. All permanent accounts are closed but nominal accounts are not closed. All balance sheet accounts are closed. Two common subgroups for liabilities on a classified balance sheet are: Current liabilities and intangible liabilities. Present liabilities and operating liabilities. General liabilities and specific liabilities. Intangible liabilities and long-term liabilities. Current liabilities and long-term liabilities. The Retained Earnings account has a credit balance of $37,000 before closing entries are made. If total revenues for the period are $55,200, total expenses are $39,800, and dividends are $9,000, what is the ending balance in the Retained Earnings account after all closing entries are made? $37,000. $35,400. $43,400. $28,000. $52,400