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The following information is available for the Higgins Travel Agency. After closing entries are posted, what will be the balance in the Retained earnings account?
The following information is available for the Higgins Travel Agency. After closing entries are posted, what will be the balance in the Retained earnings account?
| Net Income | $ | 53,500 |
| Retained earnings | 135,500 | |
| Dividends | 16,400 | |
Multiple Choice
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$98,400.
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$135,500.
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$172,600.
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$205,400.
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