5) Shown below is the adjusted Trial Balance for Simon Incorporated, on December 31, after the first year of operations, after adjusting entries: Simon, Incorporated Adjusted Trial Balance December 31 Debit Credit Cash $ 1,600 Accounts Receivable 4,000 Office Equipment 16,800 Accumulated Depreciation $ 1,600 Capital Stock 2,400 Retained Earnings 2,720 Dividends 960 Service Fees Earned 21,920 Wages Expense 3,200 Supplies Expense 1,120 Depreciation Expense 960 Totals $ 28,640 $ 28,640 After closing the accounts, Retained Earnings at December 31 equals: A) Zero. B) $18,400. C) $19,360. D) $16,640