From the data, calculate the retained earnings balance as of December 31, 2019. Retained earnings, December 31,

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From the data, calculate the retained earnings balance as of December 31, 2019.

Retained earnings, December 31, 2018 $ 314,500

Cost of equipment purchased during 2019 49,000

Net loss for the year ended December 31, 2019 4,550

Dividends declared and paid in 2019 16,000

Decrease in cash balance from January 1, 2019 to December 31, 2019 10,000

Decrease in long-term debt in 2019 14,900

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From the data, calculate the retained earnings balance as of December 31, 2019. Retained earnings, December 31,

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Accounting What the Numbers Mean

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