what are the reatined earnings ?

Exercise 3-20 (Algo) Preporing closing entries and a post-closing trial balonce LO PG Following are accounts and yearend adjusted balances of Cruz Company as of December 31 1. Prepare the December 31 closing enthes. The account number for lincome Summary is 901 2. Prepare the December 31 post-closing vial balance. Note The Retained Earnings account balanice was $39.600 on December 31 of the prioryear Complete this questions by entering your answers in the tabs below. Pregare the December 31 post-doaing trat balance. Note: The Retained Earnings accoust balunce was $39,600 on December 31 of the priar phas