what is retained earnings?

ASSETS Cash LIABILITIES Accounts payable Notes payable Total current liabilities 50,000 80,000 100,000 $ 12,000 50,000 $ Accounts receivable Inventory Total current assets Long-term debt 228,000 $ Total liabilities 730,000 Gross P&E Common stock Less accumulated depreciation Net P&E 100,000 250,000 $ 130,000 $ $ Paid-in capital Retained earnings Total liabilities and equity $ Total assets