At the end of 2016,Valley Packaging Company's adjusted trial balance showed a zero balance in retained earnings.What is the most likely explanation for this?
A) Valley reported zero net income in 2016.
B) Valley's trial balance will be out of balance until closing entries are made.
C) 2016 was Valley's first year in business.
D) An error must have been made in preparing Valley's trial balance.
Correct Answer:
Verified
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