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Please help with correct answer and explaination if possible, thx!(:

6. After all adjusting entries have been made and the financial statements have been prepared at the end of the fiscal year,
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Profit and loss a/c. Dr 695500

To salaries exp. 305500

To supplies exp. 208000

To rent exp. 95000

To insurance exp. 87000

  

Revenue A/c Dr 839000

To profit and loss a/c 839000

Net profit a/c. Dr 143500

To profit & loss a/c. 14350

Retained Earnings = opening balance + net profit - dividend

319500+ 143500-25000 = 438000

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