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Calculate the retained earnings balance of december

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Question - From the data given below, calculate the Retained Earnings balance of December 31, 2010.

Prepare the retained earning portion of a statement of change in owners' equity for the year ended December 31, 2010.   

Retained Earnings, December 31, 2009 - $230,000

Increase in total liabilities during 2010 - 66,000

Gain on the sale of buildings during 2010 - 28,000

Dividends declined and paid in 2010 - 18,000

Proceeds from the sale of common stock in 2010 - 64,000

Net Income for the year ended December 31, 2010 - 82,000

Reference no: EM131648736

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