From the following data calculate the retained earnings balance as 106862
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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