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At January 1, 2019, Betty DeRose, Inc. reported liabilities of $222,000 and retained earnings of $137,000. During 2019, the assets of Betty DeRose decreased by
At January 1, 2019, Betty DeRose, Inc. reported liabilities of $222,000 and retained earnings of $137,000. During 2019, the assets of Betty DeRose decreased by $70,000, the liabilities increased by $42,000, and the common stock increased by $10,000. At December 31, 2019, Betty DeRose, Inc. had total equity of $285,000. Calculate Betty DeRose, Inc.'s retained earnings at December 31, 2019. Do not use decimals in your answer.
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