For the year ending December 31, 2020, Windsor, Inc. reports net income $131,000 and cash dividends $83,000. Determine the balance in retained earnings at December 31 assuming the balance in retained earnings on January 1, 2020, was $218,000.

For the year ending December 31, 2020, Windsor, Inc. reports net income $131,000 and cash dividends $83,000. Determine the balance in retained earnings at December 31 assuming the balance in retained earnings on January 1, 2020, was $218,000. (List items that increase retained earnings first.) Windsor, Inc. Retained Earnings Statement $ $