Retained earnings, December 31, 2019 $ 420,600 Decrease in total liabilities during 2019 91,600 Gain on the sale of buildings during 2019 32,200 Dividends declared and paid in 2019 9,000 Proceeds from sale of common stock in 2019 98,800 Net income for the year ended December 31, 2019 45,200 Required From the above data, calculate the retained earnings balance as of December 31, 2018 (Enter decreases with a minus sign to indicate a negative financial statement effect ) Statement of Stockholders' Equity (Partial) For Year Ended December 31, 2019 Retained earnings, December 31, 2018 Retained earnings, December 31, 2019

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Question: Retained earnings, December 31, 2019 $ 420,600 Decrease in total liabilities during 2019 91,600 Gain on the sale of buildings during 2019 32,200 Dividends declared

Retained earnings, December 31, 2019	$	420,600
Decrease in total liabilities during 2019		91,600
Gain on the sale of buildings during 2019		32,200
Dividends declared and paid in 2019		9,000
Proceeds from sale of common stock in 2019		98,800
Net income for the year ended December 31, 2019		45,200

Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.)

Statement of Stockholders' Equity (Partial)
For Year Ended December 31, 2019
Retained earnings, December 31, 2018


Retained earnings, December 31, 2019

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