Exercise 2-11 (Algo) Calculate retained earnings LO 2,3 Retained earnings, December 31, 2018 Cost of equipment purchased during 2019 Dividends declared and paid in 2019 Net loss for the year ended December 31, 2019 Decrease in cash balance from January 1, 2019 to December 31, 2019 Decrease in long-term debt in 2019 Required: $305,200 37,000 4,850 18,000 11,000 14,700 From the above data, calculate the retained earnings balance as of December 31, 2019. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Statement of Stockholders' Equity (Partial) For Year Ended December 31, 2019