As of December 31, 2014, Post Company had total cash of $158,000, notes payable of $85,800, and common stock of $52,600. During 2015, Post earned $38,000 of cash revenue, paid $21,000 for cash expenses, and paid a $3,200 cash dividend to the stockholders.

Required

a.

Determine the amount of retained earnings as of December 31, 2014.??

	Create an accounting equation and record the beginning account balances, revenue, expense, and dividend events under the appropriate elements of the accounting equation. (Enter any decreases to account balances with a minus sign.)