The adjusted trial balance of Fargo Company as of July 31,2022 is presented below. (Read that again, think about what that means about where Fargo is in the accounting cycle.) Notice that the total debits and credits for each account are indicated (including the beginning balances) rather than the usual account balance. For example, the eash account had transactions which resulted in a total of $67,900 debits (including the beginning balance) and a total of $59,600 credits. All adjusting entries have been made for the month of July 2022, except the adjustment for inventory. Fargo's fiscal year end is June 30. 3. What was the balance of Retained Earnings at the beginning of the fiscal year