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Determine the retained earnings as of September

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Reference no: EM133031440

Question - The following information was taken from the records of Henry Harsel Corporation for the month ended September 30, 2018:

Advertising expense $20,625

Income tax expense $13,095

Accounts payable $13,450

Dividends paid $14,125

Consulting fees revenue $97,875

Rent expense $11,728

Supplies expense $16,917

If Retained Earnings balance on September 30, 2018 was $57,860, determine the retained earnings as of September 1, 2018.

A. $36,475

B. $23,380

C. $50,600

D. $22,350

Reference no: EM133031440

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