QUESTION 12 The following pre-closing accounts and balances were drawn from the records of Carolina Company...

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QUESTION 12 The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts Payable $4,000 $2,000 $3,200 $1,800 Accounts receivable Common Stock Revenue Expense $3,400 $ 3,900 $3,200 $2,200 The amount of Carolina's retained earnings after closing on December 31, Year 1 was: $5,900. $3,900. 0 00 $4,900. $7,200. QUESTION 12 The following pre-closing accounts and balances were drawn from the records of Carolina Company on December 31, Year 1: Cash Dividends Land Accounts Payable $4,000 $2,000 $3,200 $1,800 Accounts receivable Common Stock Revenue Expense $3,400 $ 3,900 $3,200 $2,200 The amount of Carolina's retained earnings after closing on December 31, Year 1 was: $5,900. $3,900. 0 00 $4,900. $7,200.