(1) These are cumulative retained camings but textbook simply calls it retained earnings When answering the questions (filling in the blanks), DO NOT use dollar signs, DO NOT USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign and place it in front of first digit of your answer when your answer is a negative number. Round to the nearest dollar. Owner's equity as of 12/31/2020 is Your