Question: From the data given below, calculate the Retained Earnings balance as of December 31, 2020. $ Retained earnings, December 31, 2019 Cost of equipment purchased

From the data given below, calculate the Retained Earnings balance as

From the data given below, calculate the Retained Earnings balance as of December 31, 2020. $ Retained earnings, December 31, 2019 Cost of equipment purchased during 2020 Net loss for the year ended December 31, 2020 Dividends declared and paid in 2020 Decrease in cash balance from January 1, 2020, to December 31, 2020 Decrease in long-term debt in 2020 840,000 250,000 86,000 110,000 24,000 134,000

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