Cash Accounts Receivable 48,000 18,000 6,000 57,000 Supplies Equipment 48,000 18,000 6,000 57,000 Accumulated Depr. Accounts Payable Wages Payable Common Stock 18,000 25,000 6,000 30,000 18,000 25,000 6,000 30,000 3,000 Retained Earnings Dividends 3,000 3,000 3,000 Fees Earned 155,000 155,000 Wages Expense Rent Expense Depreciation Expense 63,000 27,000 15,000 237,000 63,000 27,000 15,000 105,000 Totals 237,000 155,000 132,000 82,000 Net Income (Loss 50,000 155,000 50,000 155,000 132,000 132,000 The effect of dosing revenues and expenses to Retained Earnings will be to: increase Retained Earnings by 5237,000 b. decrease Retained Earnings by 5237,000 c.decrease Retained Earnings by 550,000 increase Retired turns by 550.000