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With the adjusted trial balance in hand, you see that the debit totals of the real accounts is $ 1 8 , 2 5 0

With the adjusted trial balance in hand, you see that the debit totals of the real accounts is $18,250 and the credit totals of the real accounts is $14,550. The debit total of the nominal or temporary accounts is $3,475 while the credit total of the nominal or temporary accounts is $7,175. From this you know that
there is an error in the adjusted trial balance.
retained earnings will increase by $3,700 through the closing process.
net income is $3,700 for the fiscal period.
net loss is $3,700 for the fiscal period.
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