The following is the adjusted trial balance for Stockton Company.

Stockton Company Adjusted Trial Balance December 31
Cash	5,705
Accounts Receivable	2,671
Prepaid Expenses	720
Equipment	14,234
Accumulated Depreciation		2,180
Accounts Payable		1,720
Notes Payable		4,710
Common Stock		1,000
Retained Earnings		9,735
Dividends	934
Fees Earned		8,641
Wages Expense	2,143
Rent Expense	850
Utilities Expense	402
Depreciation Expense	249
Miscellaneous Expense	78
Totals	27,986	27,986

Determine the retained earnings ending balance.

a.$13,720

b.$4,919

c.$10,735

d.$27,986

Expert Solution

ekkarill92 answered 2 years ago

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