Multiple Choice
If service revenue is $260,000, total expenses are $175,000, additional capital stock issued of $13,000 and dividends declared are $4,000, what is the change in retained earnings as a result of the closing process?
A) an increase of $260,000
B) an increase of $81,000
C) an increase of $4,000
D) an increase of $9,000
Correct Answer:
Verified
Correct Answer:
Verified
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