Lee Insurance Agency started the year weth a beginning Retained Earnings balance of $26,500. During the year, Lee insurance Agency earned \$41,000 of Service Roverue and incurred $26,000 of vanous expenses. Dividends of $11,000 from the business wore pad to stockholders. Afer the closing entries are recoedod and posted, what will be the balance of Retained Earnings? Post the begining balance and closing entry amounts to the Retained Eamings account. Use a "Bal." posting reference to show the beginning and ending balance of the Retained Eamings account. Use a "Clos " posting reference to show the amounts that are posted whilo closing the books. The revente and expense amounts should be combined into one closing entry for net income (like you are closing the income Summary account)