On Janyary 1, 2018, several investors contributed $250,000 to start Jackson Enterprises in exchange for common stock. During the year, Jackson Enterprises earned total revenues of $230,000 and incurred total expenses of $160,000. Jackson also distributed cash dividends to the owners totaling $32,000. What was the balance in Jones Corporation's retained earnings account at the end of the year after closing? $288,000 $102,000 $38,000 $352,000