CHAPTERS 15 & 16 Retained earnings balance at the beginning of the year Cash dividends declared for the year $132,000 52,000 Proceeds from the sale of equipment 87,000 Gain on the sale of equipment 8,200 Cash dividends payable at the beginning of the year Cash dividends payable at the end of the year 24,000 27,200 Net income for the year 98,000 What is the ending balance for retained earnings? Multiple Choice $186.000 $178.000 $288,000 $260,000 $208,000 Help Se