Sierra Company has provided the following data: 2022 revenues were $140,000. 2022 expenses were $70,240. Dividends declared and paid by Moss during 2022 totaled $25,120. Total assets on December 31, 2022 were $363,200. Total stockholders' equity on December 31, 2022 was $212,800. Common stock on December 31, 2022 was $148,800. Required: Calculate the beginning retained earnings balance. Beginning retained earnings

Sierra Company has provided the following data: 2022 revenues were $140,000. 2022 expenses were $70,240. Dividends declared and paid by Moss during 2022 totaled \$25,120. Total assets on December 31, 2022 were $363,200. Total stockholders' equity on December 31, 2022 was $212,800. Common stock on December 31, 2022 was $148,800. Required: Calculate the beginning retained earnings balance