Finley Company End-of-Period Spreadsheet 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 8,111 8,111 Dividends 1,000 1,000 Fees Earned 44,192 44,192 Wages Expense i 19,915 19,915 Rent Expense 5,782 5,782 Depreciation Expense 5,606 5,606 Totals 75,303 75,303 31,303 44,192 44,000 31,111 63.000 3.000 Accumulated Depr. Accounts Payable Wages Payable 6,000 10,000 10,000 2,000 2,000 Common Stock 5,000 5,000 Retained Earnings 8,111 8,111 Dividends 1,000 1,000 Fees Earned 44,192 44,192 Wages Expense 19,915 19,915 Rent Expense 5,782 5,782 Depreciation Expense 5,606 5,606 Totals 75,303 75,303 31,303 44,192 44,000 31,111 Net Income (Loss) 12,889 12,889 44,192 44,192 44,000 44,000 The effect of closing revenues and expenses to Retained Earnings will be to: Oa. Increase Retained Earnings by $12,889 Ob. decrease Retained Earnings by $12,889 Oc increase Retained Earnings by $31,303 Od. decrease Retained Earnings by $44,000