Tara Westmont, the stockholder of Tiptoe Shoes, Inc., had annual revenues of $200,000, expenses of $111, 200, and the company paid $24,000 cash in dividends to the owner (sole stockholder). The retained earnings account before closing had a balance of $312,000. The ending retained earnings balance after closing is: $200,000 $64, 800 $88, 800 $376, 800 $400, 800