Coconut Plantations Pty Limited had the following assets and liabilities at financial year end.

Required
a. What is the balance of retained earnings as at the end of the two financial years?
b. If the company reported profit after tax of $229 600 for the year ended 31 December 2017 what amount (if any) of dividends were proposed and paid during the year?

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Assets Cash at bank Inventory Prepaid insurance Accounts receivabl Land, buildings and equipment (net) Liabilities & equity Accounts payable Accrued expenses Income tax payable Bank loan Share capital Retained earnings 31 December 2017 $ 37 200 175 000 4 500 93 010 359 500 $ 42 500 7 500 98 400 131 000 200 000 ? 31 December 2016 $ 45600 60 000 1000 23 110 229 500 $ 3300 700 45 000 20 000 200 000 ?