The following information is provided for Fey Corp. for the year ended December 31. Sales Cost of goods sold General and administrative expenses Unrealized gain on available-for-sale securities Dividends declared and paid Prior period adjustment, net of tax (expense understatement) Stock dividends distributed $88,000 36,000 20,000 1,600 9,600 1,760 4,800 3,200 104,000 Treasury stock at cost Retained earnings, beginning balance Required Assuming a 25% tax rate, calculate the ending balance in retained earnings for the year ended December 31. Retained earnings, Dec. 31 $ 109,840 x

Assuming a 25% tax rate, calculate the ending balance in retained earnings for the year ended December 31