1.The following is the adjusted trial balance for Stockton Company.
Stockton Company
Adjusted Trial Balance
December 31 Cash 5,407 Accounts Receivable 2,059 Prepaid Expenses 689 Equipment 15,023 Accumulated Depreciation 10,498 Accounts Payable 1,407 Notes Payable 4,303 Common Stock 1,000 Retained Earnings 2,998 Dividends 781 Fees Earned 8,357 Wages Expense 3,132 Rent Expense 856 Utilities Expense 336 Depreciation Expense 223 Miscellaneous Expense 57 Totals 28,563 28,563 Determine the retained earnings ending balance.
a. $3,998
b. $3,753
c. $28,563
d. $5,970