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 |
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