Retained earnings, December 2019 Decrease in total liabilities during 2019 Gain on the sale of buildings during 2019 Dividends declared and paid in 2019 Proceeds from sale of common stock in 2019 Net income for the year ended December 31, 2019 $441,630 96,180 33,810 9,450 103,740 47,460 Required: From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Answer is complete but not entirely correct. Statement of Stockholders' Equity (Partial) For Year Ended December 31, 2019 Retained earnings, December 31, 2018 $ 441,630 X Less: Dividends 9,450 Add: Net income 47,460 Retained earnings, December 31, 2019 $ 403,620 X >>