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 |
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