The balance sheet items of Mercer Company as of December 31, 2011, follow in random order. You are to prepare a balance sheet for the company, using a similar sequence for assets as illustrated in Exhibit 29. You must compute the amount for Retained Earnings.

MERCER COMPANY BALANCE SHEET DECEMBER 31, 2011,
Asset Liability and Owners Equity
Cash --------------------------$ 36,300 Account receivables------ $ 56.700 Office equipment---------- $ 12,400 Land--------------------------$ 90,000 Building ------------------- $ 210,000 Total-------------------------- QUESTION A.compute the amount for Retained Earnings.	Liability; Notes payable----------$207,000 Account payable---------$43,800 Total liabilities------- Owners Equity Capital stock------------- $75,000 Retained Earnings------- $ 79.600 Total -------------------------