44. The data set below represents the adjusted trial balance for Happy Incorporated. After the accountant prepares and records the post closing entries for Happy Incorporated, what will be the balance of retained earnings? $2,562 2.098 3,024 86 300 82 Cash Accounts receivable Inventory Prepaid Rent PPP&E Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salary Expense Totals 172 2,016 4,930 100 1.000 8.200 8.200 A) B) C) D) $8,200 $5,900 $5.930 $5,800 15. Nelson Corporation sells three different products. The following information is available on December 31: Inventory Item Units 100 200 500 Cost per unit $4.00 S2.00 $3.00 Market value per unit S3.50 $1.50 S4.00 When applying the lower of cost of market rule to each item, what will Nelson's TOTAL ENDING INVENTORY BALANCE be? A) B) C) D) $2,300 $2,150 $2,650 $2,200