Cullumber's retained earnings were $23,040 at the beginning of the year. The company reported revenues of $379,840, expenses of $356,480, and dividends declared of $19,200 during the year. Prepare a calculation that proves how retained earnings of $27,200 at the end of the year was determined. Beginning balance in Retained Earnings Revenues Expenses Dividends declared Ending balance in Retained Earnings $

Cullumber's retained earnings were $23,040 at the beginning of the year. The company reported revenues of $379,840, expenses of $356,480, and dividends declared of $19,200 during the year. Prepare a calculation that proves how retained earnings of $27,200 at the end of the year was determined