The Retained earnings account has a credit balance of $26,350 before closing entries are made. If total revenues for the period are $82,700, total expenses are $60,700, and dividends are $13,950, what is the ending balance in the Retained earnings account after all closing entries are made?

a. $34,400.

b. $48,350.

c. $12,400.

d. $26,350.

e. $22,000.