Calculate retained earnings From the following data, calculate the retained earnings balance as of December 31, 2009:
|
Retained earnings, December 31, 2010 |
$841,200 |
|
Decrease in total liabilities during 2010 |
183,200 |
|
Gain on the sale of buildings during 2010 |
64,400 |
|
Dividends declared and paid in 2010 |
18,000 |
|
Proceeds from sale of common stock in 2010 |
197,600 |
|
Net income for the year ended December 31, 2010 |
90,400 |