End-of-period For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 16,000 16,000 Accounts Receivable 6,000 6,000 Supplies 2,000 2,000 Equipment 19,000 19,000 Accumulated Depr. 6,000 6,000 Accounts Payable 10,000 10,000 Wages Payable 2,000 2,000 Common Stock 5,000 5,000 Retained Earnings 3,757 3,757 Dividends 1,000 1,000 Fees Earned 48,581 48,581 20,973 20,973 Wages Expense Rent Expense Depreciation Expense 5,993 5,993 4,372 4,372 Totals 75,338 75,338 31,338 48,581 44,000 26,757 Net Income (Loss) 17,243 17,243 48,581 48,581 44,000 44,000 The effect of closing revenues and expenses to Retained Earnings will be to: a. increase Retained Earnings by $17,243