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Retained earnings, December 31, 2019 $ 357,510 Decrease in total liabilities during 2019 77,860 Gain on the sale of buildings during 2019 27,370 Dividends declared
Retained earnings, December 31, 2019 | $ | 357,510 |
Decrease in total liabilities during 2019 | 77,860 | |
Gain on the sale of buildings during 2019 | 27,370 | |
Dividends declared and paid in 2019 | 7,650 | |
Proceeds from sale of common stock in 2019 | 83,980 | |
Net income for the year ended December 31, 2019 | 38,420 | |
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.)
Statement of Stockholders' Equity (Partial) For Year Ended December 31, 2019 Retained earnings, December 31, 2018 Add: Net income Less: Dividends Retained earnings, December 31, 2019 $ 357,510
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