Answer:
b.$9,944
Explanation:
The computation of the ending retained earning balance is given below:
We know that
Ending retained earning balance = opening retained earning balance + net income - dividend paid
where,
Net income is
Fees Earned 6,972
Less:
Wages Expense 3,443
Rent Expense 819
Utilities Expense 426
Depreciation Expense 238
Miscellaneous Expense 110
Net income $1,936
Now the ending retained earning balance is
= $8,696 + $1,936 - $688
= $9,944