Use this end$-$of$-$period spreadsheet to answer the question that follows.

Finley Company

End$-$of$-$Period Spreadsheet

For the Year Ended December $31$

$\backslash$table$[[$Account Title,Adjusted Trial Balance,Income Statement,Balance Sheet$],[$Debit$,$Credit,Debit,Credit,Debit,Credit$],[$Cash$,16,000,,,,16,000,],[$Accounts Recelvable,$6,000,,,,6,000,],[$Supplies$,2,000,,,,2,000,],[$Equipment$,19,000,,,,19,000,],[$Accumulated Depr.,,$6,000,,,,6,000],[$Accounts Payable,,$10,000,,,,10,000],[$Wages Payable,,$2,000,,,,2,000],[$Common Stock,,$5,000,,,,5,000],[$Retained Earnings,,$10,759,,,,10,759],[$Dividends$,1,000,,,,1,000,],[$Fees Earned,,$41,090,,41,090,,],[$Wages Expense,$19,615,,19,615,,,],[$Rent Expense,$6,687,,6,687,,,],[$Depreciation Expense,$4,547,,4,547,,,],[74,849,\backslash$table$[[74,849]],30,849,41,090,44,000,33,759],[$Net Income,,,$10,241,,,10,241],[,,41,090,41,090,44,000,44,000]]$

The effect of closing revenues and expenses to Retained Earnings will be to:

$.$ Increase Resained Earnings by $$10\mathrm{.}241$

$4.$ decricuse Relamed Farnitugs by $$10\mathrm{.}241$