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On the company's December 31,2020 balance sheet. Elena's Store had a balance in its retained earnings account of $100,000. During the year Elena's Store had

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On the company's December 31,2020 balance sheet. Elena's Store had a balance in its retained earnings account of $100,000. During the year Elena's Store had revenues of $80,000 and total expenses (including interest and taxes) of $45,000. In addition, the business paid cash dividends of $20,000. What is the balance in Retained Earnings on December 31, 2021 for Elena's Store? 1) $155,000 2) $115,000 3) $135,000 4) $100,000 5) None of the answers listed above are within $1,000 of the correct

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