The following account balances prior to closing entries were taken from the records of Keswick Company: 
After closing entries at December 31, 2013, Retained Earnings will be:
Definitions:
Functional Fixedness
A cognitive bias that limits a person's ability to use an object only in the way it is traditionally used, hindering problem-solving.
Confirmation Bias
A bias towards finding, comprehending, selecting, and reminiscing information that affirms one's prior beliefs or conjectures.
Framing Effect
The cognitive bias where people decide on options based on whether they are presented in a positive or negative way, rather than on the content itself.
Confirmation Bias
The inclination to seek out, understand, prefer, and remember details in a manner that validates one's existing opinions or theories.
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