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		1,397				1,397
Dividends	1,000				1,000
Fees Earned		49,858		49,858
Wages Expense	19,429		19,429
Rent Expense	5,915		5,915
Depreciation Expense	4,911		4,911
Totals	74,255	74,255	30,255	49,858	44,000	24,397
Net Income (Loss)			19,603			19,603
			49,858	49,858	44,000	44,000

The effect of closing revenues and expenses to Retained Earnings will be to:

a.increase Retained Earnings by $19,603

b.decrease Retained Earnings by $19,603

c.increase Retained Earnings by $30,255

d.decrease Retained Earnings by $44,000