A Company Had the Following Information The Ending Balance in the Retained Earnings Account Is_____

question 152

Multiple Choice

A company had the following information: $$\begin{array} { l r l r } \text { Beginning retained earnings }& \$ 45,000 & \text { Sales } & \$ 194,000 \\\text { Depreciation expense } & 7,000 & \text { Cash } & 11,000 \\\text { Cost of goods sold } & 102,000 & \text { Dividends } & 15,000 \\\text { Paid-in capital } & 26,000 & \text { Wage expense } & 40,000 \\\text { Rent expense } & 12,000 & \text { Prepaid rent } & 2,000\end{array}$$ The ending balance in the Retained Earnings account is_____.

• A)$61,000
• B)$63,000
• C)$65,000
• D)$74,000