Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall

Exercise 32

Calculate retained earnings 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