From the following data, calculate the Retained Earnings balance as of December 31, 2010:Retained…

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From the following data, calculate the Retained Earnings balance as of December 31, 2010:Retained earnings, December 31, 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $490,400Net decrease in total assets during 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74,800Net increase in accounts receivable in 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,200Dividends declared and paid in 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67,200Proceeds from issuance of bonds during 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176,800Net loss for the year ended December 31, 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,000View Solution:
From the following data calculate the Retained Earnings balance as 107118