The retained earnings account had a beginning credit balance of $26,650. During the period, the business had a net loss $12,550, and the company paid dividends of $8,850. The ending balance in the retained earnings account is: Multiple Choice Frosty Inc. has the following balances on December 31 prior to closing entries: Revenues Retained Earnings, Jan. 1 Cash Expenses Accounts Payable Dividends Supplies $ 42,100 9,500 8, 200 24,800 3,200 2,900 18,900 Based upon the balances above, what net adjustment would be made to Retained Earnings due to closing entries? Multiple Choice O increase of $17,400 Increase of $14,400 Increase of $15.400 Increase of $16,400