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d. $63,000 net income 5) Larry's Lumber sells lumber and general building supplies to building contractors. Larry's is budgeted to be $93,500 in December. There are no budgeted dividends to be paid. Statement of Financial Position November 30 Assets Cash $19,900 84,700 101,907 972.000 $1178,50Z Accounts receivable (net of allowance for uncollectible accounts) Inventory Property, plant and equipment (net of $495,000 accumulated depreciation) Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $261,300 798,000 119.207 The retained earnings at the end of December would be a. $119,207 b. $25,707 c. ($48,593) d. $212,707