From the following data, calculate the Retained Earnings balance as of December 31, 2011:
Retained earnings, December 31, 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $346,400
Cost of buildings purchased during 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41,800
Net income for the year ended December 31, 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56,900
Dividends declared and paid in 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32,500
Increase in cash balance from January 1, 2011, to December 31, 2011 . . . . . . . . . . . . . . 23,000
Increase in long-term debt in 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44,600