4. Fernwood Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year	$	248,000
Cash dividends declared for the year		53,750
Proceeds from the sale of equipment		91,600
Gain on the sale of equipment		4,950
Cash dividends payable at the beginning of the year		23,650
Cash dividends payable at the end of the year		31,500
Net income for the year		118,250

The ending balance in retained earnings is:

14B. On November 12, Higgins, Inc., a U.S. Company, sold merchandise on credit to Kagome of Japan at a price of 3,300,000 yen. The exchange rate was $0.00855 on the date of sale. On December 31, when Higgins prepared its financial statements, the exchange rate was $0.00861. Kagome paid in full on January 12, when the exchange rate was $0.00879. On January 12, Higgins should prepare the following journal entry: