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

Question:

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

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...