Lannsbury Inc. Balance Sheet December 31, 2020 Assets $ Liabilities and Stockholders Equity $ Cash 37,000 Accounts Payable 30,000 Accounts Receivable 41,600 Notes Payable 25,000 Investments 20,400 Bonds Payable 35,000 Land 88,000 Common Stock 120,000 Plant Assets 70,000 Retained Earnings 47,000 Total Assets $ 257,000 Total Liabilities and Stockholders Equity $ 257,000

In this question how retained earning is 47000? calculated