Facts Basic Services, Inc. a service provider purchases 100% of the office supplies on account from vendor, Standard Company Basic provides you with the below alphabetic list of normal account balances as of 12/31/2018, the retained earnings balance has been intentionally omitted: Ref. No. Account Title: 12/31 Ref. No. Account Title: 12/31 1 Accounts payable- Standard Co. $1,500 16 Office equipment $52,000 2 Accounts receivable 20,000 17 Office Supplies 9,000 3 Accumulated depreciation 22,000 18 Office supplies expense 14,000 4 Advertising Expense 23,000 19 Prepaid Advertising Expense 8,500 5 Cash 27,400 20 Prepaid Insurance Expense 700 6 Common stock 50,000 21 Rent Expense 20,000 7 Depreciation Expense 19,000 22 Rent Payable 2,000 8 Dividends 25,000 23 Retained earnings ? 9 Dividends Payable 9,000 24 Salaries Payable 6,000 10 Gain on fixed asset disposal 7,000 25 Salary Expense 158,000 11 Insurance Expense 6,000 26 Service Revenue 270,000 12 Interest expense 3,000 27 Store equipment 84,000 13 Interest Payable 1,100 28 Unearned Service Fees 4,000 14 Miscellaneous Expense 5,000 29 Utilities Expense 12,000 15 Notes payable 65,000 30 Utilities yable 1,000 Select the answer below that correctly portrays the company's retained earnings account balance at 1/1/2018 A. None of the answer choices provided are correct. B. $48,000 C.$90,000 D. 540,000 E. $50,000