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During 2 0 2 2 , Yee Corporation reported revenues of $ 3 2 7 , 0 0 0 , wages expense of $ 5

During 2022, Yee Corporation reported revenues of $327,000, wages expense of
$50,000, depreciation expense of $40,000 and declared cash dividends of $65,000.
Retained Earnings on January 1,2022 was $168,000.
Required:
A) Prepare closing entries at December 31,2022.(Remember REID - Revenues,
Expenses, Income summary, Drawings/Dividends)(8 marks)
B) Calculate the balance in Retained Earnings on December 31,2022.(5 marks)

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