Question 20 Refer to the following adjusted trial balance after the first year of operations. Accounts Debit Credit Cash $1.900 Accounts Receivable 8,900 Office Supplies 200|| Prepaid Insurance Expense 2,000 Equipment 20,300 Accumulated Depreciation Equipment $2,000 Accounts Payable 1,000 Salaries Payable 1 850 Unearned Revenue Common Stock 3,600 Dividends 3,000 Sales Revenue Salaries Expense 23,000 Cost of Goods Sold 1,500 Supplies Expense 500 Depreciation Expense 1.700 Total $63.000 563.000 400 55,150 What will the balance of the Retained Earnings account be after the closing entries are posted? $28,450 $32,050 $31,450 $25,450