1. The following is the adjusted trial balance for Stockton Company.

   Stockton Company
   Adjusted Trial Balance
   December 31
   Cash	7,530
   Accounts Receivable	2,100
   Prepaid Expenses	700
   Equipment	13,700
   Accumulated Depreciation		1,100
   Accounts Payable		1,900
   Notes Payable		4,300
   Common Stock		1,000
   Retained Earnings		12,940
   Dividends	790
   Fees Earned		9,250
   Wages Expense	2,500
   Rent Expense	1,960
   Utilities Expense	775
   Depreciation Expense	250
   Miscellaneous Expense	185
   Totals	30,490	30,490

   Determine the retained earnings ending balance.

   a.$21,400

   b.$15,730

   c.$12,150

   d.$6,480