Lorna Company is a new company with a beginning retained earnings balance of zero. It has the following account balances at the end of the first year of operations: Accounts Payable Revenues Salaries Expense Dividends Utilities Expense $37,000 $104,000 $17,000 $12,000 $11,000

Lorna Company is a new company with a beginning retained earnings balance of zero. It has the following account balances at the end of the first year of operations