From the following data, calculate the retained earnings balance as of December 31, 2015: Retailed earnings, December

Question:

From the following data, calculate the retained earnings balance as of December 31, 2015:
Retailed earnings, December 31, 2016...................................... $210,300
Decrease in total liabilities during 2016.................................... 45,800
Gain on the sale of buildings during 2016.................................. 16,100
Dividends declared and paid in 2016........................................ 4,500
Proceeds from sale d in 2016................................ 49,400
Net income for the year ended December 31, 2016........................ 22,600
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...