E 2-5 LO1 Computing Elements of Equity From the information provided, determine: LO 2 1. The amount of retained earnings at December 31. 2. The amount of revenues for the period. Totals Current assets All other assets Liabilities Capital stock Retained earnings Additional data: Expenses for the period were $55,000. Dividends paid were $9,000. Capital stock increased by $20,000 during the period. January 1 December 31 $15,000 $25,000 240,000 220,000 125,000 85,000 70,000 60,000