Calculate retained earnings From the following data, calculate the retained earnings balance as of December 31, 2010:
|
Retained earnings, December 31, 2009 |
$311,800 |
|
Cost of equipment purchased during 2010 |
32,400 |
|
Net loss for the year ended December 31, 2010 |
4,700 |
|
Dividends declared and paid in 2010 |
18,500 |
|
Decrease in cash balance from January 1, 2010, to December 31, 2010 |
13,600 |
|
Decrease in long term debt in 2010 |
14,800 |