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Refer to the data below. Retained earnings, December 31, 2017 $490,400 Net decrease in total assets during 2017 74,800 Net increase in accounts receivable in
Refer to the data below. Retained earnings, December 31, 2017 $490,400 Net decrease in total assets during 2017 74,800 Net increase in accounts receivable in 2017 17,200 Dividends declared and paid in 2017 67,200 Proceeds from issuance of bonds during 2017 176,800 Net loss for the year ended December 31, 2017 46,000 Required: From the above data, calculate the Retained Earnings balance as of December 31, 2016:
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