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Calculate the retained earnings balance as of december

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Reference no: EM132084622

From the following data:

Retained earnings, December 31, 2013 $ 349,500  
  Cost of buildings purchased during 2014   42,600  
  Net income for the year ended December 31, 2014   56,700  
  Dividends declared and paid in 2014   32,500  
  Increase in cash balance from January 1, 2014, to December 31, 2014   23,600  
  Increase in long-term debt in 2014   45,700  

Required:

Calculate the Retained Earnings balance as of December 31, 2014.

Reference no: EM132084622

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