Given the following adjusted trial balance: 
After closing entries have been posted, the balance in retained earnings will be:
Definitions:
Direct Method
A cash flow statement preparation method that reports major classes of gross cash receipts and payments. This method is one of two standards for creating the statement of cash flows.
Operating Activities
Activities and transactions related to the primary operations of a company, including revenue and expense transactions impacting the company's net income.
Useful Life
The estimated period over which an asset is expected to be usable by an organization, affecting its depreciation calculation.
Net Cash Inflow
The total amount of cash received minus the total amount of cash spent over a period.
Q54: The preparation of adjusting entries is:<br>A)straightforward because
Q74: All of the following statements are true
Q120: Which pair of the listed accounts follows
Q131: Sales revenue less cost of goods sold
Q144: Management could determine the amounts due from
Q156: The difference between ending inventory using LIFO
Q183: Unearned revenue is a prepayment that requires
Q191: Accounting information should be neutral in order
Q201: The primary difference between accrued revenues and
Q216: Each of the following is a major