d. $22,500 Use this end-of-period spreadsheet to answer the questions that follow Finley Company End-of-Period Spreadsheet For the Year Ended December 31 Income Statement Balance Sheet Debit Credit Debit 48,000 Credit 18,000 6,000 57,000 18,000 25,000 6,00 30,0 Adjusted Trial Balance Account Title Debit Credit Cash 48,000 Accounts Receivable 18,000 Supplies 6,000 Equipment 57,000 Accumulated Depr. 18,000 Accounts Payable 25,000 Wages Payable 6,000 Common Stock 30,000 Retained Earnings 3,000 Dividends 3,000 Fees Earned 155,000 Wages xpense 63,000 ent Expense 27,000 epreciation Spense 15,000 tals 237,000 237,000 Income SS) 3,0 3,000 155,000 63,000 27,000 15,000 105,000 155,000 132,000 50,000 155.000 155.000 132,000 18. The effect of closing revenues and expenses to Retained Earnings will be to: a. increase Retained Earnings by $50,000 b. decrease Retained Earnings by $50,000 c. increase Retained Earnings by $237,000 d. decrease Retained Earnings by $237,000