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Johnathan had annual revenues of $40,000, expenses of $20,000, and paid dividends of $12,000 during the year. The Retained Earnings account before closing had a
Johnathan had annual revenues of $40,000, expenses of $20,000, and paid dividends of $12,000 during the year. The Retained Earnings account before closing had a balance of $18,000. The ending Retained Earnings balance after closing is:
| $26,000 |
| $38,000 |
| $46,000 |
| $50,000 |
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