Murray Company had retained earnings of $56,000 at the beginning of 2013. During the year the company had total revenues of $600,000, total expenses (including taxes) of $500,000, bought property and equipment for $340,000 and paid cash dividends of $13, 500 Requirement Compute Murray Company's retained earnings at the end of 2013. Begin by selecting the formula used to calculate the ending balance in the retained earnings account. Then enter the amounts calculate the retained earnings at the end of 2013. (Abbreviations used R/E = Retained earnings. Property and equip = Property and equipment)