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 10,678 10,678 Dividends 1,000 1,000 Fees Earned 42,252 42,252 Wages Expense 19,790 19,790 Rent Expense 6,759 6,759 Depreciation Expense 5,381 5,381 Totals 75,930 75,930 31,930 42,252 44,000 33,678 Net Income (Loss) 10,322 10,322 42,252 42,252 44,000 44,000 The effect of closing revenues and expenses to Retained Earnings will be to: Oa. Increase Retained Earnings by $10.322 Ob. decrease Retained Earnings by $10.322 Oc. increase Retained Earnings by $31.930 Od. decrease Retained Earnings by $44.00