Retained Earings Account Balance As of January 1, Retained Earnings had a credit balance of $314,000. During the year, dividends totaled $10,000, and the business incurred a net loss of $120.000 a. Compute the balance of Retained Earnings as of the end of the Year Debit (negative) balance of b. Assuming that there have been no recording errors, will the balance sheet prepared at December 31 balance? Yes Fe tarda a ra dua routines a Set up a Taccount for the reared comings account Retained Earrings accounts have normal crede haces et income, neret ant h Each property recorded transaction that affects retained earnings must maintain the ble entry counting system and the way of the