Reference no: EM132954254
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
Problem 1: 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
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