Question: Ewan Insurance Agency started the year with a beginning Retained
Ewan Insurance Agency started the year with a beginning Retained Earnings balance of $ 25,000. During the year, Ewan earned $ 40,000 of Service Revenue and incurred $ 21,000 of various expenses. Dividends of $ 8,000 from the business were paid to stockholders. After the closing entries are recorded and posted, what will be the balance of Retained Earnings?
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