Fernwood Company is preparing the cormpany's statenent of cash flows for the fiscal year just ended The following information is available Retained earnings balance at the beginning of the year $243,000 52,500 89,400 4,800 23,100 31,000 115,500 Cash dividends declared for the vear Proceeds from the sale of equipment Gain on the sale of equipment Cash dividends payable at the beginning of the year Cash dividends payable at the end of the year Net income for the year The ending balance in retained earnings is Multiple Choice $310,800