Manchester Corporation's adjusted trial balance reported the following account balances at the end of the current year:

	Debit			Credit
Cash	$	15,000
Buildings and Equipment		85,000
Accumulated Depreciation				$	5,000
Accounts Payable					10,000
Common Stock					59,000
Retained Earnings					18,000
Sales Revenue					56,000
Depreciation Expense		25,000
Loss on Disposal of Assets		23,000
Totals	$	148,000		$	148,000

Which of the following will be included in the closing entry prepared at the end of the current year?

Multiple Choice

• Credit to Retained earnings for $8,000

• Debit to Retained earnings for $8,000

• Credit to Retained earnings for $31,000

• None of the answer choices are correct.