28. Refer to Bellingham lncorporated's December 31, 2019 Balance Sheet shown below. Bellingham began 2019 with $240,000 in owner's equity. During the year they issued $30,000 in new common stock and paid $10,000 in dividends. If their net income for 2019 was $40,000, what was their retained earnings balance on December 31, 2018