1. For the year ended December 31, 2015, a company reported the following:

Net income $180,000

Preferred stock dividends declared 30,000

Common stock dividend declared 6,000

Unrealized holding loss (available for sale securities), net of tax 3,000

Retained earnings, beginning balance 240,000

Common stock 120,000

Accumulated OCI, beginning Balance 15,000

Note: OCI = Other Comprehensive Income

What should the company report as the ending balance of Retained Earnings?

In order to earn points, display your calculation in detail.